Latest Janet Yellen News

Ohio's million-dollar idea: Lottery prizes for vaccinations

May. 12, 2021 22:28 PM EDT

COLUMBUS, Ohio (AP) — Ohio Gov. Mike DeWine unveiled a lottery system Wednesday to entice people to get COVID-19 shots, offering a weekly $1 million prize and full-ride college scholarships in a creative bid to overcome the vaccine hesitancy that remains a stubborn problem across the...

Wisconsin receiving less than expected from federal stimulus

May. 11, 2021 14:02 PM EDT

MADISON, Wis. (AP) — Wisconsin will receive $700 million less than initially expected in federal coronavirus relief money and it will arrive in two payments a year apart, news that Gov. Tony Evers and U.S. Sen. Tammy Baldwin said Tuesday was problematic. The state was...

EXPLAINER: Did US hiring slow because of a ‘labor shortage’?

May. 08, 2021 20:40 PM EDT

WASHINGTON (AP) — The anticipation for the U.S. jobs report for April, released Friday morning, was high. Most experts agreed that after a yearlong pandemic, tens of millions of layoffs and widespread disease and death, a likely second straight month of nearly 1 million...

US job growth slows sharply in sign of hiring struggles

May. 07, 2021 17:36 PM EDT

WASHINGTON (AP) — The recovery of America’s job market hit a pause last month as many businesses — from restaurants and hotels to factories and construction companies — struggled to find enough workers to catch up with a rapidly strengthening economic rebound. ...

Yellen picks top Fed banking regulator as acting comptroller

May. 07, 2021 13:32 PM EDT

WASHINGTON (AP) — Michael J. Hsu, a top banking regulator at the Federal Reserve, was appointed by Treasury Secretary Janet Yellen on Friday as acting U.S. Comptroller of the Currency. Yellen said that she planned to designate Hsu as first deputy comptroller, which...

Asian stocks mixed, echoing Wall St sentiments on pandemic

May. 06, 2021 00:08 AM EDT

TOKYO (AP) — Asian shares were mixed Thursday on cautious optimism about upcoming company earnings reports showing some recovery from the damage of the coronavirus pandemic. Japan's benchmark Nikkei 225 jumped 2.0% in morning trading to 29,391.19, in the first session...

Asia markets mixed after Wall St decline

May. 05, 2021 00:25 AM EDT

BEIJING (AP) — Major Asian stock markets advanced Wednesday after Wall Street fell, while Chinese and Japanese markets were closed for holidays. Overnight, Wall Street's benchmark S&P 500 index lost 0.7%, dragged down by more declines for tech stocks including Apple...

Yellen clarifies she is not predicting Fed rate increases

May. 04, 2021 18:44 PM EDT

WASHINGTON (AP) — Treasury Secretary Janet Yellen said Tuesday that she is not predicting when the Federal Reserve may need to start raising interest rates. She was seeking to clarify her earlier remarks that rattled financial markets. Yellen...

Yellen: Biden's phased-in spending plan won't fuel inflation

May. 02, 2021 18:21 PM EDT

WASHINGTON (AP) — President Joe Biden’s massive proposed spending on infrastructure, families and education will not fuel inflation because the plans would be phased in gradually over 10 years, Treasury Secretary Janet Yellen said Sunday. New economic reports have...

Powell's high-stakes bet: More jobs but only mild inflation

May. 01, 2021 11:14 AM EDT

WASHINGTON (AP) — With employers hiring, consumers spending and companies raising some prices, Federal Reserve Chair Jerome Powell is embarking on a high-stakes gamble. Powell's bet is that the Fed can keep rates ultra-low even as the U.S. economic recovery kicks into...