Latest Janet Yellen News
Biden calls to revive bank regulations that Trump weakened
WASHINGTON (AP) — Weeks after the failure of two banks, President Joe Biden called Thursday for independent regulatory agencies to impose tighter rules on the financial system, telling them that they can act under current law without additional steps taken by Congress. The...
US makes corporate transparency commitment with 20 nations
WASHINGTON (AP) — Treasury Secretary Janet Yellen affirmed America’s commitment to enhancing corporate transparency along with more than 20 other countries participating in this week's Summit for Democracy. While the Biden administration is already working to establish a new...
Bank failures and rescue test Yellen's decades of experience
WASHINGTON (AP) — Working against the clock to stop a developing banking crisis, Treasury Secretary Janet Yellen had until sunset on Sunday, March 12, to come up with a plan to calm the U.S. economy. She quickly turned to someone who had been through the fire before, and on a much...
Wall Street ends higher, marking 2nd winning week in a row
A late-afternoon turnaround on Wall Street left stocks higher Friday as the market shook off a weak start amid worries about banks on both sides of the Atlantic. The S&P 500 rose 0.6% after slipping for most of the morning. The benchmark index marked its second straight weekly...
Asian shares decline after Fed hints rate hikes may end soon
TOKYO (AP) — Asian shares were mostly lower Thursday after the Federal Reserve raised a key interest rate, while noting the end may be near for its economy-crunching hikes to interest rates. The Fed raised its key overnight rate by a quarter of a percentage point, the same size as...
Asian shares advance on back of Wall Street rally
BANGKOK (AP) — Asian shares advanced Wednesday after a Wall Street rally led by the banks most beaten down by the industry’s crisis. Oil prices fell back and U.S. futures were little changed. Investors are awaiting an interest rate decision by the Federal Reserve,...
How major US stock indexes fared Tuesday 3/21/2023
Stocks rallied on Wall Street, including the banks most beaten down by the industry’s crisis. The S&P 500 rose 1.3% Tuesday, its first back-to-back gain in two weeks, after Treasury Secretary Janet Yellen said the government could offer the banking industry more assistance if...
Yellen says bank situation stabilizing, different from 2008
WASHINGTON (AP) — Treasury Secretary Janet Yellen projected calm on Tuesday after recent regional bank collapses but told a gathering of bankers that additional rescue arrangements “could be warranted” if any new failures at smaller institutions jeopardize financial stability. ...
Washington turns to Wall Street to help rescue dying bank
The scene was reminiscent of the last financial crisis, nearly 15 years ago: Faced with a blossoming emergency in the banking sector, worried regulators and policymakers in Washington turned to Wall Street for help. The anxiety this week centered on First Republic Bank in San...
Why TikTok's security risks keep raising fears
TikTok is once again fending off claims that its Chinese parent company, ByteDance, would share user data from its popular video-sharing app with the Chinese government, or push propaganda and misinformation on its behalf. China’s Foreign Ministry on Wednesday accused the United...
