Latest Janet Yellen News

G-7, Europe reach deal for price cap on Russian diesel

Feb. 03, 2023 17:04 PM EST

BRUSSELS (AP) — U.S. Treasury Secretary Janet Yellen said Friday that industrialized countries in the Group of Seven are imposing a price cap on refined Russian oil products such as diesel and kerosene, as part of a coalition that includes Australia and a tentative agreement from the European...

Biden, McCarthy meet face-to-face on debt crisis worries

Feb. 01, 2023 20:44 PM EST

WASHINGTON (AP) — President Joe Biden and House Speaker Kevin McCarthy met face-to-face Wednesday for more than an hour of highly anticipated budget talks — "a good first meeting," the new Republican leader said — but expectations were low for quick progress as GOP lawmakers push for steep...

Treasury to increase borrowing amid debt ceiling standoff

Jan. 30, 2023 16:29 PM EST

WASHINGTON (AP) — The Treasury Department said Monday it plans to increase its borrowing during the first three months of 2023, even as the federal government is bumping up against a $31.4 trillion limit on its legal borrowing authority. The U.S. plans to borrow $932 billion during...

Yellen says Africa to shape world economy as US reengages

Jan. 26, 2023 13:33 PM EST

PRETORIA, South Africa (AP) — U.S. Treasury Secretary Janet Yellen watched Ford cars and pickup trucks being assembled at a plant in South Africa on Thursday, citing it as an example of cooperation between Washington and Africa as she begins the Biden administration's big push to reengage with a...

Yellen visits Zambian farm to showcase Africa's ag potential

Jan. 26, 2023 11:35 AM EST

CHONGWE, Zambia (AP) — U.S. Treasury Secretary Janet Yellen traveled from a small farm on a rural red clay road to a ramen noodle manufacturing plant in Zambia's bustling capitol of Lusaka on Tuesday to showcase Africa's potential to help solve the world's problems with food shortages. ...

Yellen tours wildlife reserve to start South Africa visit

Jan. 25, 2023 09:22 AM EST

HAMMANSKRAAL, South Africa (AP) — U.S. Treasury Secretary Janet Yellen used a tour of a wildlife park in South Africa on Wednesday to announce a joint initiative to combat wildlife trafficking and related criminal activities in both countries. Yellen said during a visit to the...

China cites US debt issue to deflect pressure on Africa debt

Jan. 25, 2023 04:12 AM EST

BEIJING (AP) — The Chinese government says the United States should stop pressuring it on debt relief for Zambia and focus on averting a government default at home with possible repercussions for the global economy. The Chinese embassy in Zambia responded Tuesday to remarks by U.S....

Treasury takes another 'extraordinary' step on debt limit

Jan. 24, 2023 13:03 PM EST

WASHINGTON (AP) — U.S. Treasury Secretary Janet Yellen sent a letter Tuesday to congressional leaders saying she's suspending the reinvestment of some federal bonds in a government workers' savings plan — an additional “extraordinary" measure to buy time for President Joe Biden and Congress...

Yellen pushes for China to address Zambia's big debt burden

Jan. 23, 2023 12:46 PM EST

LUSAKA, Zambia (AP) — U.S. Treasury Secretary Janet Yellen, on the second leg of an African tour aimed at promoting American investment and ties, said on Monday it's crucial to immediately address Zambia's heavy debt burden with China. Yellen was in Lusaka, a capital city that's...

US ambassador heading to Africa as part of Biden's big push

Jan. 22, 2023 05:40 AM EST

UNITED NATIONS (AP) — The U.S. ambassador to the United Nations, Linda Thomas-Greenfield, is the second Cabinet member heading to Africa as part of President Joe Biden’s big push to engage with the world’s second-largest continent. The U.S. Mission to the U.N. said Sunday she...