Treasury Secretary warns October 18 is the deadline. Senate Majority Leader Chuck Schumer of New York said in a letter to colleagues Monday that legislators must act to…
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Speaker Says Congress Has Options on Debt Ceiling
Treasury Secretary says not raising the ceiling would be “catastrophic.” As members of Congress return from its Labor Day recess, they must address raising or suspending the debt…
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Social Security Reserves Estimated Depleted by 2033
Coronavirus pandemic accelerated depletion by one year. The Social Security trust fund for retirement and survivors benefits is estimated to have its reserves depleted in 2033, which is…
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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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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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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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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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G7 Nations Agree to 15% Global Tax
Announcement was made by U.S. Treasury Secretary Yellen, a proponent of the tax. The Group of Seven (G7) nations have committed to moving toward a 15% global minimum…
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Treasury Secretary Hints at Interest Increases
Expects the Federal Reserve to maintain economic stability. On Tuesday, Secretary of the Treasury Janet Yellen indicated that national interest rates might have to increase due to the…
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