WASHINGTON (AP) — The Treasury Department said Thursday it has blocked a $1 billion Delaware-based trust connected to sanctioned Russian oligarch Suleiman Abusaidovich Kerimov.
REHOBOTH BEACH, Del. (AP) — Treasury Secretary Janet Yellen said Sunday that she expects the U.S. economy to slow in the months ahead, but that a recession is not inevitable.
Yellen offered a dose of optimism even as economists grow increasingly worried about a recession fueled by skyrocketing inflation and the Russian invasion of Ukraine.
REHOBOTH BEACH, Del. (AP) — President Joe Biden said Saturday he plans to talk to Chinese leader Xi Jinping soon as he considers whether to lift some Trump-era tariffs on Chinese goods.
Biden did not say when they might speak, but suggested he was getting closer to making a decision about the fate of the economic penalties.
WASHINGTON (AP) — Treasury Secretary Janet Yellen acknowledged Tuesday that she and Federal Reserve Chair Jerome Powell “could have used a better word” than “transitory” when describing the expected run of inflation in the U.S.
WASHINGTON (AP) — Stagflation. It was the dreaded “S word” of the 1970s.
For Americans of a certain age, it conjures memories of painfully long lines at gas stations, shuttered factories and President Gerald Ford’s much-ridiculed “Whip Inflation Now” buttons.
Russia says it will pay dollar-denominated foreign debt in rubles, a move that is likely to be seen by foreign investors as a default.
The U.S. Treasury Department led by Janet Yellen allowed a license to expire Wednesday that permitted Russia to keep paying its debtholders through American banks.
WASHINGTON (AP) — The U.S. will close the last avenue for Russia to pay its billions in debt back to international investors on Wednesday, making a Russian default on its debts for the first time since the Bolshevik Revolution all but inevitable.
TOKYO (AP) — Asian shares were mostly lower on Tuesday as worries over inflation tempered optimism over President Joe Biden’s remark that he was considering reducing U.S. tariffs on Chinese imports.
KOENIGSWINTER, Germany (AP) — Treasury Secretary Janet Yellen celebrated a “historic day” last summer when more than 100 nations agreed to a global minimum tax deal, aimed at putting the world's countries on a more equal footing in attracting and keeping multinational companies.
KOENIGSWINTER, Germany (AP) — Finance ministers for the Group of Seven leading economies grappled Thursday with deepening inflation concerns and the immediate effects of Russia’s war in Ukraine, with U.S.
BONN, Germany (AP) — Treasury Secretary Janet Yellen warned Wednesday that Russia's February invasion of Ukraine has produced a sharp increase in food and energy prices that is contributing to a slowdown in growth and creating greater risk of global stagflation.
BRUSSELS (AP) — Even as Western allies grapple with how to counter Russia's assault on Ukraine, U.S. Treasury Secretary Janet Yellen warned Tuesday that they also must take a wary and united approach to checking China and its business practices.
WARSAW, Poland (AP) — U.S. Treasury Secretary Janet Yellen on Monday met with Ukrainian refugees and urged the need to confront Russian brutality as she visited Poland ahead of a meeting of finance ministers for the Group of Seven leading economies.
WASHINGTON (AP) — Treasury Secretary Janet Yellen, responding to the recent sharp decline in the value of cryptocurrencies, said Thursday that additional federal regulation was needed to respond to the wave of speculative investment in the currency whose secrecy is an essential part of its appeal.
WASHINGTON (AP) — Treasury Secretary Janet Yellen's appearance before a Senate committee took an unexpected and tense detour into the abortion debate Tuesday when senators questioned her about the potential impact of an abortion ban on the American economy.
WASHINGTON (AP) — Treasury Secretary Janet Yellen said Thursday the global pandemic and Russia’s invasion of Ukraine highlight the possibility of big economic shocks in the future, adding that downturns are “likely to continue to challenge the economy.”
TOKYO (AP) — Asian shares fell Friday, tracking losses on Wall Street after Federal Reserve Chair Jerome Powell indicated increases in interest rates must be faster to fight inflation.
Major indexes cascaded downward in Asia, with the drop pronounced at nearly 2% in Tokyo.
WASHINGTON (AP) — The mounting economic damage to Ukraine from Russia's ongoing bombardment has the U.S. and its allies speeding billions in aid to the beleaguered country — and looking for other sources of cash as well, including Russia itself.
WASHINGTON (AP) — Treasury Secretary Janet Yellen and Ukraine's Finance Minister Serhiy Marchenko walked out of a Group of 20 meeting Wednesday as Russia's representative started talking.
Several finance ministers and central bank governors also left the room, according an official familiar with the meetings, who spoke on the condition of anonymity because the event was not public.
WASHINGTON (AP) — Treasury Secretary Janet Yellen urged world finance leaders Tuesday to “get concrete” as they look for ways to combat a looming crisis over food insecurity around the globe that Russia's war in Ukraine has made even worse.
WASHINGTON (AP) — Treasury Secretary Janet Yellen plans to meet with Ukrainian Prime Minister Denys Shmyhal during this week's big meetings of global economic leaders in Washington — but she'll be trying to avoid most contact with Russian officials who plan to attend some portions of the event virtually.
BEIJING (AP) — China on Thursday said it would reject “any pressure or coercion” over its relationship with Russia, in response to a call from U.S. Treasury Secretary Janet Yellen for Beijing to use its “special relationship with Russia” to persuade Moscow to end the war in Ukraine.
WASHINGTON (AP) — Treasury Secretary Janet Yellen on Wednesday urged China to use its “special relationship with Russia” to persuade Russia to end the war in Ukraine.
WASHINGTON (AP) — Treasury Secretary Janet Yellen says more government regulation is needed to police the proliferation of cryptocurrency and ward off fraudulent or illicit transactions.
WASHINGTON (AP) — Treasury Secretary Janet Yellen warned a House panel Wednesday that Russia’s aggression in Eastern Europe will have “enormous economic repercussions in Ukraine and beyond.” She added that the rising price of energy, metal, wheat and corn that Russia and Ukraine produce "is going to escalate inflationary pressures as well.”
WASHINGTON (AP) — Announcing tough sanctions against Russian oligarchs over the war in Ukraine was step one.
Now the U.S. and its allies are creating new teams to act on their vow to “seize and freeze” the giant boats, estates and other pricey assets of Russian elites.
WASHINGTON (AP) — President Joe Biden on Wednesday signed an executive order on government oversight of cryptocurrency that urges the Federal Reserve to explore whether the central bank should jump in and create its own digital currency.
CHICAGO (AP) — Treasury Secretary Janet Yellen used a visit to Chicago on Wednesday to spotlight the Biden administration's determination to strip Russian oligarchs of their wealth in response to Vladimir Putin's invasion of Ukraine.
The Biden administration wants families with children to know that there is roughly $193 billion waiting for them — all they need to do is file their taxes to claim it.
That estimated total is what remains of the expanded child tax credit, and the administration is concerned that some of those most in need of the assistance may be the least likely to get what is due to them.
WASHINGTON (AP) — Treasury Secretary Janet Yellen told a gathering of America’s mayors on Wednesday that the Biden administration’s coronavirus relief bill was like a vaccine preventing catastrophic economic damage that could have returned the nation to the financial woes seen at the beginning of the pandemic.
WASHINGTON (AP) — The nation's top financial regulators told Congress Friday that threats to U.S. financial stability remain elevated even though the country has recovered from what appears to be the worst economic shocks from the pandemic.
WASHINGTON (AP) — President Joe Biden on Thursday signed a bill raising the nation's borrowing limit by $2.5 trillion, avoiding a potentially catastrophic default and resolving the turbulent issue until after the 2022 midterm elections.
WASHINGTON (AP) — Congress averted a catastrophic debt default early Wednesday morning after Democratic majorities in both chambers voted to send a $2.5 trillion increase in the nation's borrowing authority to President Joe Biden over lockstep Republican opposition.
WASHINGTON (AP) — Congress averted a catastrophic debt default early Wednesday morning after Democratic majorities in both chambers voted to send a $2.5 trillion increase in the nation's borrowing authority to President Joe Biden over lockstep Republican opposition.
SPRINGFIELD, Ill. (AP) — Illinois state Comptroller Susana Mendoza was among eight state financial officers on Monday urging the Treasury Department to reinstate interest-payment waivers on tens of billions of dollars loaned to states for unemployment rolls that exploded upon the debut of the COVID-19 pandemic.
WASHINGTON (AP) — The U.S. Treasury Department announced Tuesday the release of $8.7 billion to help increase lending to small and minority-owned businesses and people living in poorer communities with limited access to banking.
WASHINGTON (AP) — Congressional leaders reached an elaborate deal Tuesday that will allow Democrats to lift the nation’s debt limit without any votes from Republicans, likely averting another last-minute rush to avoid a federal default.
WASHINGTON (AP) — Treasury Secretary Janet Yellen told Congress Tuesday that she believed she would run out of maneuvering room to avoid the nation's first-ever default soon after Dec. 15.
In a letter to congressional leaders, Yellen said that she believed Treasury could be left with insufficient resources to keep financing the government beyond Dec.
WASHINGTON (AP) — The Biden administration is calling on Congress to pass legislation that would strengthen government regulation of stablecoins, a form of cryptocurrency that has soared in popularity in the past year.
ROME (AP) — Leaders at the Group of 20 summit in Rome are expressing broad support for sweeping changes in how big global companies are taxed.
The goal: deterring multinationals from stashing profits in countries where they pay little or no taxes — commonly known as tax havens.
NEW YORK (AP) — The Treasury Department has hired a former JPMorgan Chase executive to head a new government program aimed at combatting racial inequality issues in banking and other financial-services industries.
WASHINGTON (AP) — U.S. financial regulators on Thursday approved a series of steps toward addressing the dangers that climate change poses to the nation’s financial system.
The Financial Stability Oversight Council, which is headed by Treasury Secretary Janet Yellen and includes Federal Reserve Chairman Jerome Powell, acknowledged in a report that climate change is a serious economic threat.
WASHINGTON (AP) — The House has approved a short-term increase to the nation's debt limit, ensuring the federal government can continue fully paying its bills into December and temporarily averting an unprecedented default that would have decimated the economy.