Latest Janet Yellen News

Yellen: Biden pandemic relief 'like a vaccine' for economy

Jan. 19, 2022 10:27 AM EST

WASHINGTON (AP) — Treasury Secretary Janet Yellen told a gathering of America’s mayors on Wednesday that the Biden administration’s coronavirus relief bill was like a vaccine preventing catastrophic economic damage that could have returned the nation to the financial woes seen at the...

COVID, China, climate: Online Davos event tackles big themes

Jan. 15, 2022 02:36 AM EST

GENEVA (AP) — The coronavirus pandemic has forced the World Economic Forum's annual meeting of world leaders, business executives and other heavyweights to go virtual for the second year in a row, but organizers still hope to catapult the world into thinking about the future with a scaled-down...

US Mint begins shipping quarters honoring Maya Angelou

Jan. 12, 2022 18:27 PM EST

WASHINGTON (AP) — The United States Mint said Monday it has begun shipping quarters featuring the image of poet Maya Angelou, the first coins in its American Women Quarters Program. Angelou, an American author, poet and Civil Rights activist, rose to prominence with the publication...

Regulators: threats to US financial system remain elevated

Dec. 17, 2021 12:20 PM EST

WASHINGTON (AP) — The nation's top financial regulators told Congress Friday that threats to U.S. financial stability remain elevated even though the country has recovered from what appears to be the worst economic shocks from the pandemic. In its annual report on threats to the...

Biden signs bill hiking US borrowing limit by $2.5 trillion

Dec. 16, 2021 13:28 PM EST

WASHINGTON (AP) — President Joe Biden on Thursday signed a bill raising the nation's borrowing limit by $2.5 trillion, avoiding a potentially catastrophic default and resolving the turbulent issue until after the 2022 midterm elections. The House voted early Wednesday to raise the...

Sen. Wyden says Oregon should divest from spyware company

Dec. 15, 2021 15:39 PM EST

SALEM, Ore. (AP) — U.S. Sen. Ron Wyden said Wednesday that the Oregon state employees pension fund should drop its investment in NSO Group, whose smartphone-hacking tool has targeted human rights monitors, journalists, politicians and others. The Oregon Democrat's comments to The...

Congress sends Biden $2.5T debt limit hike, avoiding default

Dec. 15, 2021 01:38 AM EST

WASHINGTON (AP) — Congress averted a catastrophic debt default early Wednesday morning after Democratic majorities in both chambers voted to send a $2.5 trillion increase in the nation's borrowing authority to President Joe Biden over lockstep Republican opposition. Capping a...

Congress sends Biden $2.5T debt limit hike, avoiding default

Dec. 15, 2021 00:37 AM EST

WASHINGTON (AP) — Congress averted a catastrophic debt default early Wednesday morning after Democratic majorities in both chambers voted to send a $2.5 trillion increase in the nation's borrowing authority to President Joe Biden over lockstep Republican opposition. Capping a...

Mendoza seeks break for Illinois on pandemic-loan interest

Dec. 14, 2021 18:19 PM EST

SPRINGFIELD, Ill. (AP) — Illinois state Comptroller Susana Mendoza was among eight state financial officers on Monday urging the Treasury Department to reinstate interest-payment waivers on tens of billions of dollars loaned to states for unemployment rolls that exploded upon the debut of the...

Treasury awards $8.7B for lending in minority communities

Dec. 14, 2021 12:19 PM EST

WASHINGTON (AP) — The U.S. Treasury Department announced Tuesday the release of $8.7 billion to help increase lending to small and minority-owned businesses and people living in poorer communities with limited access to banking. The funds from the Emergency Capital Investment...