

Alan Rappeport
Posts

Why didn’t the U.S. cut off Russia from SWIFT? It’s complicated.
Removing access to the financial messaging service would be the most severe penalty but could have unwanted consequences, including compromising energy exports to Europe.

Inflation Fears Could Limit U.S. Sanctions on Russia
The Biden administration is taking steps to avoid a spike in gas prices as officials consider the potential consequences for American consumers.

I.R.S. Will Allow Taxpayers to Forgo Facial Recognition Amid Blowback
The agency, dealing with controversy over its decision to use facial recognition software, said it would allow taxpayers to authenticate their accounts with a live,...

Black Farmers Fear Foreclosure as Debt Relief Remains Frozen
Lawsuits from white farmers have blocked $4 billion of pandemic aid that was allocated to Black farmers in the American Rescue Plan.

IRS to End Use of Facial Recognition for Identity Verification
The tax collection agency will transition away from using a service from the authentication service ID.me amid bipartisan backlash.

U.S. National Debt Tops $30 Trillion as Borrowing Surged Amid Pandemic
The record red ink, fueled by spending to combat the coronavirus, comes as interest rates are expected to rise, which could add to America’s costs.

What a Disconnect From Swift Would Mean for Russia
A Belgian financial messaging service is once again at the center of an international sanctions fight.

Racial Turmoil Mars Signs of Progress at the U.S. Mint
A new internal report found that minorities felt marginalized at the Treasury agency that produces the nation’s coins.

World Bank Warns Pandemic Will Slow Economic Growth in 2022
Global growth is expected to slow to 4.1 percent this year, from 5.5 percent in 2021, a projection underscores the stubborn nature of the public...

The I.R.S. is warning of a messy tax season.
The agency, which has been hobbled by paperwork backlogs and short staffing, said tax filers should expect a lower level of service this year.