Latest U.S. Department of the Treasury News
Bank failures and rescue test Yellen's decades of experience
WASHINGTON (AP) — Working against the clock to stop a developing banking crisis, Treasury Secretary Janet Yellen had until sunset on Sunday, March 12, to come up with a plan to calm the U.S. economy. She quickly turned to someone who had been through the fire before, and on a much...
Biden's TikTok, oil moves test the loyalty of young voters
TEMPE, Ariz. (AP) — Recent moves by President Joe Biden to pressure TikTok over its Chinese ownership and approve oil drilling in an untapped area of Alaska are testing the loyalty of young voters, a group that’s largely been in his corner. Youth turnout surged in the three...
Why TikTok's security risks keep raising fears
The battle between the U.S. and China over TikTok came into full view on Thursday when the social media platform's CEO testified before Congressional lawmakers. Shou Zi Chew's hearing in front of the House Committee on Energy and Commerce is happening at what he's called a...
UK central bank hikes rates like Fed amid financial turmoil
LONDON (AP) — The Bank of England extended its battle against inflation Thursday, announcing an 11th consecutive interest rate increase despite concerns about the economic fallout from troubles in the global financial system. Britain’s central bank boosted its key rate by a...
Venezuela oil czar in surprise resignation amid graft probes
CARACAS, Venezuela (AP) — The man responsible for running Venezuela's oil industry — the one that pays for virtually everything in the troubled country, from subsidized food to ridiculously cheap gas — has quit amid investigations into alleged corruption among officials in various parts of...
Editorial Roundup: United States
Excerpts from recent editorials in the United States and abroad: March 15 The Washington Post on voter fraud: A 59-year-old man was arrested last week for allegedly double voting in the 2020 presidential election. Florida authorities brought the felony...
Yellen says bank situation stabilizing, different from 2008
WASHINGTON (AP) — Treasury Secretary Janet Yellen projected calm on Tuesday after recent regional bank collapses but told a gathering of bankers that additional rescue arrangements “could be warranted” if any new failures at smaller institutions jeopardize financial stability. ...
US announces sanctions on Iran drone procurement network
WASHINGTON (AP) — The United States said Tuesday it is imposing a new round of sanctions on Iranian firms and people accused of procuring equipment used for Iranian drones. Treasury’s Office of Foreign Assets Control coordinated with the FBI to designate four firms and three...
Venezuela's oil czar resigns amid corruption investigations
CARACAS, Venezuela (AP) — Venezuela’s oil czar announced his resignation Monday as officials investigate alleged corruption among public officials in the state oil industry and other parts of the government. Tareck El Aissami announced his resignation on Twitter and pledged to...
Will Americans end up footing the bill for bank failures?
WASHINGTON (AP) — The government's response to the failure of two large banks has already involved hundreds of billions of dollars. So will ordinary Americans end up paying for it, one way or another? And what will the price tag be? It could be months before the answers are fully...
