Tag Archives: Janet Yellen

Reuters reports: Fitch made its decision to downgrade the U.S. credit rating due to fiscal concerns and a deterioration in U.S governance as well as polarization which was reflected in part by the Jan. 6 insurrection, Richard Francis, a senior director at Fitch Ratings, told Reuters on Wednesday. In a move that took investors by surprise, Fitch downgraded the United …

Reuters reports: The U.S. Treasury Department reiterated Monday it expects to be able to pay the U.S. government’s bills only through June 1 without a debt limit increase, leaving just 10 days for White House negotiators and congressional Republicans to reach a deal. In her third letter to Congress in three weeks, Treasury Secretary Janet Yellen said it was “highly …

CNBC reports: After regulators shuttered Silicon Valley Bank and seized its deposits Friday, U.S. Treasury Secretary Janet Yellen said Sunday that she has been working “to address the situation in a timely way,” but that a major government bailout is not on the table. “Let me be clear that during the financial crisis, there were investors and owners of systemic …

The Washington Post reports:  The Biden administration began “extraordinary measures” Thursday to prevent the federal government from breaching its debt limit and hurtling toward default, a grim scenario with the potential to destabilize markets and devastate the economy. Treasury Secretary Janet L. Yellen told lawmakers that officials will alter certain federal investments to preserve the nation’s credit until summer — …

The Washington Post reports: White House press secretary Jen Psaki said Friday that a briefing Biden is receiving later from Treasury Secretary Janet Yellen would highlight “the cost of inaction” on the president’s coronavirus relief legislation — a move designed to increase pressure on Congress to move forward. The briefing, Psaki said, would demonstrate “the impact of a delay in …

The Washington Post reports: Janet Yellen was confirmed as the first female treasury secretary in American history by the U.S. Senate Monday evening. Yellen’s confirmation process garnered little controversy as the former Federal Reserve chair has long-standing ties to Senate policymakers and extensive economic and government credentials. The final vote was 84-15, with Senate Minority Leader Mitch McConnell (R-Ky.) among …

Bloomberg News reports: Treasury Secretary Steven Mnuchin will put $455 billion in unspent Cares Act funding into an account that his presumed successor, former Federal Reserve Chair Janet Yellen, will need authorization from Congress to use. Mnuchin plans to place the money into the agency’s General Fund, a Treasury Department spokesperson said Tuesday. That fund can only be tapped with …

CNBC reports: President-elect Joe Biden has chosen former Federal Reserve Chair Janet Yellen as Treasury secretary, a historic decision that could result in the nation’s first woman to lead the department, The Wall Street Journal reported Monday, citing people familiar with the matter. Yellen, 74, is widely seen as a politically “safe” pick for the role, likely to garner support …

On NATO: Trump said NATO is “no longer obsolete” during a Wednesday press conference with NATO Secretary-General Jens Stoltenberg, backtracking on his past criticism of the alliance. During the campaign, he frequently called the organization “obsolete,” saying did little to crack down on terrorism and that its other members don’t pay their “fair share.” On China: Trump told the Wall …