Federal default averted until December. President Joe Biden signed legislation on Thursday temporarily increasing the government’s borrowing limit to $28.9 trillion, delaying the deadline for debt default until…
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Senate to Vote on Temporary Debt-Ceiling Increase
Leaders agree on a compromise to carry through December 3. On Thursday, Senate Majority Leader Chuck Schumer announced an agreement had been reached with Minority Leader Mitch McConnell…
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Taliban Barred from Afghan Funds in U.S. Banks
Treasury Department froze billions in the accounts. Treasury Secretary Janet Yellen and officials in the Department of the Treasury’s Office of Foreign Assets Control directed the freezing of…
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U.S. Debt Ceiling Deadline Missed
Treasury Department beginning “extraordinary measures.” Congress limits how much money the government can borrow, and once the debt limit is reached, legislators must raise or suspend the debt…
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Administration Imposes New Sanctions on Syria
Eight individuals and 10 entities have been blacklisted. The U.S. Department of the Treasury on Wednesday imposed fresh Syria-related sanctions on individuals and entities, increasing pressure on President…
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Treasury Secretary Appeals to Congress About Debt
Legislators need to increase or suspend the debt limit soon. On Friday, Treasury Secretary Janet Yellen urged lawmakers to act on the nation’s debt limit, either increasing or…
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U.S. Sanctions Cuba Over Harsh Response to Protests
Sanctions would target senior officials. On Thursday, President Biden’s administration began imposing a range of new sanctions against Cuba. The action is intended to hold the government and…
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Treasury Secretary to Hold Meeting on Digital Currency
Stablecoins the topic of discussion with the President’s Working Group. Secretary Janet Yellen is convening a meeting on Monday with the President’s Working Group on Financial Markets to…
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HHS Announces Final Rule for Medical Billing
No Surprises Act being implemented through interagency effort. This past week, the Departments of Health and Human Services, Labor, and Treasury issued an interim final rule to protect…
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Inflation Rose to 5 Percent in May
Supply chain and hiring challenges contribute to higher prices. A report released Thursday by the Department of Labor revealed that consumer prices increased 5 percent for the year…
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