#treasury-secretary-janet-yellen

#treasury-secretary-janet-yellen

The Federal Reserve is set to announce its latest interest rate policy Wednesday, a decision that is a much more in doubt than it was barely a month ago due to the smouldering crisis in the U.S. banking system.Most economists who watch the U.S. central bank expect it to raise its trendsetting interest rate by another quarter of a percentage point, as part of its ongoing campaign to wrestle inflation into submission.

Wall Street leaders and U.S. officials discussing an intervention at First Republic Bank are exploring the possibility of government backing to encourage a deal that would shore up the lender, people with knowledge of the situation said.The shares dropped Wednesday morning.The group has floated a variety of measures to make the company more attractive to potential investors or a buyer, part of an effort to ensure there isn't another US bank failure, the people said, asking not to be named describing confidential talks.

Congress is once again bickering about raising the debt ceiling, the amount of money the US government can borrow to pay its bills on time.And that means that Corporate America has to be ready for the worst.The CEO of Bank of America (BAC), America's second-largest bank, told CNN he hopes lawmakers resolve their issues, because the market and economy love stability.

Treasury Secretary Janet Yellen said Monday that the probability of a US recession this year is low as she touted job growth and low unemployment on the eve of President Joe Biden's State of the Union address.You don't have a recession when you have 500,000 jobs and the lowest unemployment rate in 50 years, Yellen said during an appearance on ABC's Good Morning America.

The Treasury Department is steadily draining the funds it has to pay the nation's bills during the debt ceiling impasse.Treasury had $57.3 billion in cash on hand as of Thursday, according to federal data.The amount bounces around as the agency takes in revenue and makes payments, but the balance has declined from $238.5 billion at the start of the month, when the coffers were relatively flush from tax collections in April.

The 14th Amendment touches on many aspects of citizens' rights and is commonly known for its "equal protection of the laws."The Amendment has appeared in cases such as Brown v. Board of Education, Roe v. Wade, Bush v. Gore and more.Many legal scholars suggest a clause in the 14th Amendment that says the "validity of the public debt, authorized by law ... shall not be questioned" could apply to the debt limit.

The US government is tracking a growing number of foreign-linked business transactions that pose potential data risks to national security similar to those raised by TikTok, Treasury Secretary Janet Yellen told lawmakers Thursday.At a House Appropriations Committee hearing, Yellen said regulators charged with screening foreign investment deals for national security risks have witnessed a rise in such cases, but she declined to discuss specifics.

In this photo released by the Russian Foreign Ministry Press Service, Russia's Foreign Minister Sergey Lavrov, left, and his South Africa's counterpart Naledi Pandor pose for a photo prior to their talks in Pretoria, South Africa, Monday, Jan. 23, 2023.(Russian Foreign Ministry Press Service via AP) (Uncredited/Russian Foreign Ministry Press Service)PRETORIA, South Africa - Moscow was willing to negotiate with Ukraine in the early months of the war but the U.S. and other Western nations advised Kyiv against it, Russian Foreign Minister Sergey Lavrov said Monday.