U.S. Treasury Secretary Janet Yellen on Tuesday declined to say whether she would support a reappointment of Federal Reserve Chair Jerome Powell for a second term, saying it was up to President Joe Biden to decide. In an interview with CNBC, Yellen also said she trusts the U.S. central bank to make the right decisions…
US Faces a Recession If Congress Doesn’t Raise Debt Limit in 2 Weeks: Treasury Secretary
Treasury Secretary Janet Yellen warned that the United States would fall into a recession if Congress doesn’t raise or suspend the federal debt limit before Oct. 18. “It would be catastrophic to not pay the government’s bills,” Yellen, who has issued several warnings about exceeding the debt ceiling to members of Congress in recent weeks,…
US Default Would Cause ‘Irreparable’ Harm, Yellen Warns Again
October 1, 2021
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Treasury Secretary Janet Yellen on Thursday agreed that any default on U.S. debt would cause irreparable harm as well as an ensuing financial crisis and recession. Yellen, asked by a member of the House Financial Services Committee if the damage done by failure to meet the federal government’s debt obligations would be “irreparable,” answered: “Yes.”…
LIVE: Yellen, Powell Testify to House Committee on Pandemic Response
Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen testify on oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response at the U.S. House Committee on Financial Services.
US Treasury’s Yellen Seeking October Agreement on Global Minimum Corporate Tax
September 29, 2021
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WASHINGTON—U.S. Treasury Secretary Janet Yellen said on Tuesday she is looking for G20 countries to reach political agreement on a global minimum corporate tax deal at their summit in October and has not ruled out a rate higher than 15 percent. Yellen, speaking to the National Association for Business Economics, said the Senate Finance Committee…
Yellen Says Delta Slowing Recovery, Urges Faster Distribution of Emergency Rental Aid
Treasury Secretary Janet Yellen told senators on Tuesday that the United States should return to full employment next year despite headwinds from the Delta variant and urged states and localities to speed up disbursement of emergency rental aid to families in need. Yellen made the remarks before a Senate committee on Sept. 28, in which…
Federal Government Will Run out of Cash on Oct. 18 If Debt Ceiling Isn’t Raised: Treasury Secretary
Treasury Secretary Janet Yellen on Tuesday warned members of Congress that the United States’ cash reserves will likely be exhausted unless lawmakers vote to raise or suspend the debt ceiling by Oct. 18, warning that it’s not clear if the United States would be able to meet all of its financial obligations if no deal…
US Treasury’s Yellen Urges Irish Finance Minister to Take Global Tax Deal
September 23, 2021
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WASHINGTON—U.S. Treasury Secretary Janet Yellen urged Paschal Donohoe, the finance minister of low-tax Ireland, to take a “once in a generation opportunity” for a global deal that would stop a race to the bottom on corporate tax rates, the Treasury said on Wednesday. Despite pressure from Yellen and European Union officials, Ireland has not wavered…
US Treasury’s Yellen: Debt Default Would ‘Permanently’ Weaken America
September 20, 2021
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WASHINGTON—U.S. Treasury Secretary Janet Yellen issued a fresh plea for Congress to raise the federal debt ceiling on Sunday, arguing a default on U.S. debt would trigger a historic financial crisis. In a Wall Street Journal opinion piece, Yellen said that the crisis triggered by a default would compound the damage from the continuing coronavirus…
Biden Administration Warns US May Hit Debt Limit in a Few Weeks
Treasury Secretary Janet Yellen on Wednesday warned the United States could hit its debt limit by next month, warning Congress that she will run out of maneuvering room. In a letter to leaders of Congress, Yellen said she can’t provide a specific date for when she’ll be not able to keep the federal government funded…
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