Treasury Secretary Janet Yellen on Sunday again downplayed fears of a possible recession Sunday but admitted an economic slowdown is occurring. Instead of a looming recession, Yellen told NBC News the U.S. economy is in “a period of transition in which growth is slowing,” which is “necessary and appropriate, and we need to be growing…
Treasury Secretary Yellen Downplays Potential for US Recession
Treasury Secretary Janet Yellen on July 24 again downplayed concerns about a possible recession while conceding that an economic slowdown is occurring. Yellen told NBC News the U.S. economy is in “a period of transition in which growth is slowing,” which is “necessary and appropriate, and we need to be growing at a steady and…
Ex-Treasury Secretary: Millions of Americans Need to Lose Their Jobs to Contain Inflation
Former Treasury Secretary Larry Summers said that millions of Americans would have to lose their jobs in order to contain decades-high inflation. “We need five years of unemployment above 5 percent to contain inflation—in other words, we need two years of 7.5 percent unemployment or five years of 6 percent unemployment or one year of…
Little-Known Inflation Bonds Gain Huge Popularity As Inflation Worsens
Inflation-protected bonds issued by the Treasury Department have exploded in popularity in recent months as Americans seek safe investments after being battered by the stock and bond markets. I bonds, inflation-linked savings bonds, currently offer an annual interest rate of 9.62 percent. Investors can purchase these bonds at the current rate through October 2022 by…
US Treasury’s Adeyemo Says Global Phenomena, War Driving Inflation
June 2, 2022
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WASHINGTON—High inflation is being driven by global phenomena that could not be anticipated, including Russia’s invasion of Ukraine, U.S. Deputy Secretary of the Treasury Wally Adeyemo said on Wednesday, adding that U.S. demand remains strong. “I don’t think anyone saw the invasion—Russia’s invasion of Ukraine—coming, which is driving the high energy prices that we see…
Yellen to Participate Remotely in February G20 Meeting
WASHINGTON—U.S. Treasury Secretary Janet Yellen will participate in a February meeting of the G20 remotely because of a rise in the Omicron variant of the coronavirus, the U.S. Treasury Department said in a statement. The secretary will attend virtual sessions with her counterparts as well as hold bilateral meetings to discuss the world economy, taxation…
US Sanctions 4 Officials Accused of Helping Russia Destabilize Ukraine
The U.S. government on Thursday sanctioned four Ukrainian officials it accuses of being involved in activities backed by the Russian government to destabilize Ukraine. It comes amid the United States warning of further action if Russia mounts an invasion into Ukraine. Russia has massed some 100,000 troops on its borders with Ukraine, but denies it is planning…
US Sanctions 4 Ukrainian Officials Accused of Helping Russia Destabilize Ukraine
The U.S. government on Thursday sanctioned four Ukrainian officials it accuses of being involved in activities backed by the Russian government to destabilize Ukraine. It comes amid the United States warning of further action if Russia invades Ukraine. Russia has massed some 100,000 troops on its borders with Ukraine, but denies it is planning an attack. Russian officials…
CME Plans March 7 Launch for 20-year US Treasury Bond Futures
NEW YORK—CME Group Inc. said on Monday it will launch futures on 20-year U.S. Treasury bonds on March 7, pending regulatory review, to help investors better manage their U.S. Treasury curve exposure. The U.S. Treasury Department reintroduced 20-year bonds in May 2020 and increased securities auction sizes across a range of maturities to raise cash…
Treasury: November Saw Highest Disbursement of Rental Aid
States and localities in November paid out the largest amount of rental assistance to cash-strapped tenants since a federal program began, the Treasury Department said in a statement Friday. The $2.9 billion paid out is the latest sign that the program’s early hiccups have been mostly been resolved and it is now turning to helping…
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