Economy

Economy

Levin: Senate should vote to raise the minimum wage

Sen. Carl Levin (D-Mich.) said Friday that he wants the Senate to debate and pass legislation to raise the federal minimum wage when lawmakers return on April 28.

“When the Senate returns to Washington in late April, we should debate and pass legislation to raise the minimum wage,” Levin said said. “It is indisputable that increasing the minimum wage would reduce poverty.”

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Treasury takes strong stance on China's yuan

The Obama administration issued a report Tuesday criticizing China for recent drops in the value of its currency and vowing to closely monitor the yuan’s progress and press for further policy changes. 

The Treasury Department called China’s currency "significantly undervalued" but didn’t go as far as to deem China or any other nation a currency manipulator in its semiannual report to Congress.

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