Latest Janet Yellen News

Treasury proposes new anti-money laundering regulations for investment advisers

Feb. 13, 2024 09:03 AM EST

WASHINGTON (AP) — The Biden administration is rolling out new recordkeeping rules for U.S. investment advisers in its continued effort to clamp down on money laundering, illicit finance and fraud in the American financial system. The Treasury Department's Financial Crimes...

Treasury rolls out residential real estate transparency rules to combat money laundering

Feb. 07, 2024 17:11 PM EST

WASHINGTON (AP) — The Biden administration wants to make residential real estate transactions more transparent by unmasking the owners of certain all-cash purchases. It's part of an ongoing effort to combat money laundering and the movement of dirty money through the American financial system. ...

China, US hold economic talks as trade issues heat up on the campaign trail

Feb. 07, 2024 04:19 AM EST

BANGKOK (AP) — Chinese and U.S. officials have met in Beijing for talks on tough issues dividing the two largest economies, as trade and tariffs increasingly draw attention in the runup to the U.S. presidential election. China’s Ministry of Finance said Beijing raised objections...

Yellen visits Midwest to showcase improving consumer sentiment, take aim at Trump tax cuts

Jan. 25, 2024 14:49 PM EST

WASHINGTON (AP) — Treasury Secretary Janet Yellen is visiting Illinois and electoral battleground Wisconsin this week to make a case for the Biden administration's economic agenda and offer a reminder about the Trump administration tax cuts, which she says added to the deficit and did little to...

IRS will start simplifying its notices to taxpayers as agency continues modernization push

Jan. 23, 2024 14:08 PM EST

WASHINGTON (AP) — The IRS wants to rewrite its complicated letters to taxpayers and speak to people in plain English. The federal tax collector is rewriting and sending out commonly received notices ahead of the 2024 tax filing season as part of its new “Simple Notice...

US China official conclude meeting on financial issues

Jan. 20, 2024 03:00 AM EST

BANGKOK (AP) — US and Chinese officials have completed the third meeting of a working group established to cooperate on financial issues, in a step that continues the trend set by the two powers last November to ease tensions. Officials from the U.S. Department of the Treasury met...

Yellen says current US economic growth 'vindicates' Biden's COVID-19 pandemic stimulus spending

Jan. 17, 2024 11:06 AM EST

WASHINGTON (AP) — Treasury Secretary Janet Yellen is pushing back against Republican criticism of the Democrats' big coronavirus pandemic response package and making an election-year pitch that the current state of the U.S. economy “vindicates” the steps taken in 2021 to “get our economy...

Yellen says 100,000 firms have joined a business database aimed at unmasking shell company owners

Jan. 08, 2024 16:03 PM EST

VIENNA, Va. (AP) — Treasury Secretary Janet Yellen announced that 100,000 businesses have joined a new database that collects “beneficial ownership” information on firms as part of a new government effort to unmask shell company owners. Yellen said in remarks Monday that the...

Biden signs an executive order aimed at financial facilitators of the Russian defense industry

Dec. 22, 2023 09:40 AM EST

WASHINGTON (AP) — President Joe Biden signed an executive order Friday giving the U.S. Treasury Department the authority to target financial institutions that facilitate Russia's efforts to bolster its defense industry. The new sanctions authority is meant to gum up the Kremlin's...

Biden believes U.S. Steel sale to Japanese company warrants 'serious scrutiny,' White House says

Dec. 21, 2023 21:56 PM EST

WASHINGTON (AP) — President Joe Biden believes “serious scrutiny” is warranted for the planned acquisition of U.S. Steel by Japan's Nippon Steel, the White House said Thursday after days of silence on a transaction that has drawn alarm from the steelworkers union. Lael...