Eswar Prasad

Bitcoin surpassed $100,000 for the second time ever on Wednesday, after hitting the milestone the first time in early December, a surge fueled by optimism that the Trump administration would be more friendly to the cryptocurrency industry.

Digital payments, made through systems like the Unified Payments Interface (UPI), have transformed life in India.

The divide between China bulls and bears is getting louder as the beleaguered economy comes into full focus this year.

"It damaged our global standing and meant significant missed economic opportunities for American firms and workers," Yellen said.

"This seriously deviates from the market economy and fair competition principles that the U.S. has always advocated," the Chinese Ministry of Commerce said.

Everything from the stock market to Social Security payments could be jolted if the U.S. defaults on its obligations.

If the debt crisis roiling Washington were eventually to send the U.S. crashing into recession, America's economy would hardly sink alone. The repercussions of a first-ever default on the federal debt would quickly reverberate around the world.

From Dallas and Minneapolis to New York and Los Angeles, offices sit vacant or underused, showing the staying power of the work-from-home era. But clear desks and quiet break rooms aren't just a headache for bosses eager to gather teams in person.

Globe-trotting billionaire, in calls to executives, used his influence to push company's plans to split into six groups

People around the world already embrace the dollar. If the U.S. is smart, it will embrace stablecoins to make the dollar even more appealing.

The meeting between President Biden and Chinese President Xi Jinping was seen as a good sign by traders who bet on the markets. Eswar Prasad, the Tolani senior professor of trade policy at Cornell University, joined CBS News' John Dickerson to discuss what the talks mean for the world economy and more.

The downfall of the cryptocurrency exchange FTX has deepened concerns about the lack of safeguards in crypto for big investors and everyday consumers alike —

The Biden administration is moving one step closer to developing a central bank digital currency, known as the digital dollar, saying it would help reinforce the U.S. role as a leader in the world financial system.

Inflation is near double-digit territory in many of the world's biggest economies. The complication is that central banks for the most part appear to have only limited control.

The White House is emphasizing that inflation is worldwide. Economists say that's true — but stimulus-spurred consumer buying is also to blame.

Trump's tariffs come on top of a recent loss of faith in free trade and interconnectedness.

U.S. stock fell sharply after Trump's announcement, as Wall Street hoped the tariff path would be less damaging for global trade.

The Chinese economy is more dependent on exports, making tariffs more potent, yet it's less reliant on American markets and increasingly bent on self-sufficiency.

The Biden administration is announcing plans to slap new tariffs on Chinese electric vehicles, advanced batteries, solar cells, steel, aluminum and medical equipment.

The Treasury Department on Friday announced an aggressive expansion of existing financial penalties.