Latest Janet Yellen News

EXPLAINER: What's the effect of Russian oil price cap, ban?

Nov. 24, 2022 13:33 PM EST

FRANKFURT, Germany (AP) — Western governments are aiming to cap the price of Russia's oil exports in an attempt to limit the fossil fuel earnings that support Moscow's budget, its military and the invasion of Ukraine. The cap is set to take effect on Dec. 5, the same day the...

Biden says inflation help is coming but 'will take time'

Nov. 18, 2022 14:56 PM EST

WASHINGTON (AP) — President Joe Biden cautioned on Friday that “it's going to take time” for inflation to recede, but he offered fresh assurance that legislation he signed earlier this year will soon help limit costs for health care and energy. He made the remarks while...

Barbados spearheads push on climate disaster financing

Nov. 18, 2022 05:23 AM EST

SHARM EL-SHEIKH, Egypt (AP) — At the U.N. climate summit in Egypt, leaders of developing nations have repeatedly said it's not fair to expect them to cover the costs of rebuilding from devastating weather events in a warming world, plus invest in cleaner industry while they also pay much higher...

House panel to hold hearing on crypto exchange FTX collapse

Nov. 16, 2022 17:52 PM EST

WASHINGTON (AP) — Lawmakers plan to investigate the failure of FTX, the large crypto exchange that collapsed last week and filed for bankruptcy protection, leaving investors and customers staring at losses that could total in the billions of dollars. The House Financial Services...

Business group sues over new corporate ownership database

Nov. 15, 2022 15:22 PM EST

WASHINGTON (AP) — A small business lobbying group filed suit Tuesday to block the Treasury Department's upcoming requirement that tens of millions of small businesses register with the government as part of an effort to prevent the criminal abuse of anonymous shell companies. The...

US sanctions firms over Iranian drone transfers to Russia

Nov. 15, 2022 14:44 PM EST

WASHINGTON (AP) — The U.S. said Tuesday it is imposing new sanctions on firms and entities accused of being involved in the transfer of Iranian drones to Russia for use in Vladimir Putin's ongoing invasion of Ukraine. The move comes after Iranian officials earlier this month...

US sanctions non-Russians linked to military suppliers

Nov. 14, 2022 11:37 AM EST

WASHINGTON (AP) — The U.S. said Monday it was imposing sanctions on a list of people and firms around the globe that it alleged are involved in supporting Russia's military as it wages war on Ukraine. Unlike recent packages of sanctions imposed on Russia-based firms and people,...

Ukraine, China-US frictions dominate at G-20 summit in Bali

Nov. 14, 2022 09:24 AM EST

NUSA DUA, Indonesia (AP) — Discord over Russia’s war on Ukraine and festering tensions between the U.S. and China are proving to be ominous backdrops for world leaders gathering in Indonesia’s tropical Bali island for a summit of the Group of 20 biggest economies starting Tuesday. ...

Yellen visits India to shore up US-Indo-Pacific partnership

Nov. 11, 2022 07:51 AM EST

NEW DELHI (AP) — Supply chains, Russia's war in Ukraine and the impact of COVID-19 were top issues for U.S. Treasury Secretary Janet Yellen as she met with Indian government and business leaders Friday in New Delhi. Both Yellen and Indian Finance Minister Nirmala Sitharaman called...

Biden nominates Daniel Werfel as IRS Commissioner

Nov. 10, 2022 16:02 PM EST

WASHINGTON (AP) — President Joe Biden on Thursday nominated a new commissioner to steer the Internal Revenue Service forward as it gets a massive funding boost. The tax collection agency's current commissioner ends his term this week. Danny Werfel, who leads Boston Consulting...