The International Monetary Fund says a painful slowdown, which could include a recession, has become a bigger risk for the global economy.

The International Monetary Fund says a painful slowdown, which could include a recession, has become a bigger risk for the global economy.

The 10-year strategy document outlines a focus on taxpayer services and enforcement efforts on the rich.

The tax preparation industry is alarmed over the prospect that the Internal Revenue Service will devise its own free tax-filing system.

Senators sharply questioned federal regulators about shortcomings in oversight after two bank failures rattled the financial system. Regulators put the blame on the banks’ management.

Adding to crises like the pandemic, recent stress in the banking system is a new threat to world growth, experts at the organization said.

In prepared remarks, the Treasury secretary pledged that the Biden administration would remain vigilant amid financial turmoil.

The Treasury secretary said U.S. banks are “sound” but that regulators feared the collapse of Silicon Valley Bank could have led to other runs.

The Treasury secretary also reassured Americans that their savings were safe.

The Treasury secretary’s comments on Sunday morning sought to assure the public that the overall banking sector was safe.