Latest Janet Yellen News

Yellen extends to Dec. 15 date for potential debt default

Nov. 16, 2021 18:37 PM EST

WASHINGTON (AP) — Treasury Secretary Janet Yellen told Congress Tuesday that she believed she would run out of maneuvering room to avoid the nation's first-ever default soon after Dec. 15. In a letter to congressional leaders, Yellen said that she believed Treasury...

Democrats push for paid family leave ahead of critical votes

Nov. 15, 2021 00:09 AM EST

WASHINGTON (AP) — Longtime advocates of paid family and medical leave are scrambling to make sure that the long-sought Democratic priority remains in a massive social and environmental spending bill after House Speaker Nancy Pelosi revived it. But the outcome will likely come down to the...

Guest lineups for the Sunday news shows

Nov. 12, 2021 18:56 PM EST

WASHINGTON (AP) — ABC’s “This Week” — Brian Deese, director of the White House National Economic Council; Sen. John Barrasso, R-Wyo. __ NBC’s “Meet the Press” — Deese; Gov. Chris Sununu, R-N.H.; Rep. Adam Schiff, D-Calif. ...

Latest exit from Fed's board gives Biden three slots to fill

Nov. 08, 2021 16:33 PM EST

WASHINGTON (AP) — Randal Quarles announced Monday that he will resign from the Federal Reserve's Board of Governors at the end of the year after completing a four-year term as its top bank regulator, opening up another vacancy on the Fed's influential board for President Joe Biden to fill. ...

Investors bet big on climate fight but motives questioned

Nov. 03, 2021 13:43 PM EDT

GLASGOW, Scotland (AP) — Governments and big investors announced fresh plans Wednesday to pour trillions of dollars into curbing global warming, reflecting the financial world's growing embrace of efforts to fight climate change as both a business necessity and opportunity. ...

Treasury to trim debt auctions that accelerated in pandemic

Nov. 03, 2021 09:44 AM EDT

WASHINGTON (AP) — The U.S. Treasury Department plans to start scaling back the size of some of its government debt auctions, a sign that the government's huge pandemic-driven borrowing needs are starting to ease. The government began selling debt at accelerated levels...

Treasury report calls for stricter oversight of stablecoins

Nov. 01, 2021 16:53 PM EDT

WASHINGTON (AP) — The Biden administration is calling on Congress to pass legislation that would strengthen government regulation of stablecoins, a form of cryptocurrency that has soared in popularity in the past year. In a 22-page report issued Monday, the Treasury...

Treasury says plans to borrow $1.02 trillion this quarter

Nov. 01, 2021 16:28 PM EDT

WASHINGTON (AP) — The Treasury Department said Monday it plans to borrow $1.02 trillion during the current quarter, the largest amount since the government began passing trillion-dollar rescue packages for the economy in the spring of 2020. Treasury said the borrowing...

EXPLAINER: How G20-backed corporate minimum tax would work

Oct. 30, 2021 14:35 PM EDT

ROME (AP) — Leaders at the Group of 20 summit in Rome are expressing broad support for sweeping changes in how big global companies are taxed. The goal: deterring multinationals from stashing profits in countries where they pay little or no taxes — commonly known as...

Treasury Department names first counselor for racial equity

Oct. 25, 2021 20:45 PM EDT

NEW YORK (AP) — The Treasury Department has hired a former JPMorgan Chase executive to head a new government program aimed at combatting racial inequality issues in banking and other financial-services industries. Treasury Secretary Janet Yellen said Monday that Janis...