Janet Yellen

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5 Former Treasury Chiefs Are Worried About 'Our Democracy'

They call DOGE's access to federal payments system unconstitutional and dangerous

(Newser) - Five former treasury secretaries have written an op-ed in the New York Times warning about the aggressive tactics of Elon Musk's "so-called" Department of Government Efficiency. The piece by Robert Rubin, Lawrence Summers, Timothy Geithner, Jacob Lew, and Janet Yellen takes issue with DOGE's access to the...

Yellen: I'll Take Those 'Extraordinary Measures'

Treasury secretary tells Congress she plans measures to avoid hitting debt ceiling

(Newser) - In one of her last acts as Treasury secretary, Janet Yellen said her agency will start taking "extraordinary measures," the special accounting maneuvers intended to prevent the federal government from hitting the debt ceiling, on Tuesday. Yellen made the announcement in a letter sent to congressional leaders on...

Secret Service Agent Opens Fire Near Yellen's Home

Treasury secretary wasn't in danger

(Newser) - An investigation is underway after a Secret Service agent working on protective assignment outside Treasury Secretary Janet Yellen's house fired a weapon following a confrontation between the agent and occupants of a sedan early Tuesday. At roughly 1:30am Tuesday, the agent assigned to Yellen's protective detail outside...

Culinary Diplomacy: What's Janet Yellen Eating in China?

She ate potentially psychedelic mushrooms on her last visit, and all eyes are on this trip

(Newser) - Ever since she ate mushrooms that can have psychedelic effects in Beijing last July, Janet Yellen has united Americans and Chinese in wanting to know what she'll eat next. As the AP reports, now that the US Treasury secretary is back in China this week, having stopped in Guangzhou...

US Can Help Two Allies at Once, Yellen Says

Biden plans to send combined aid package to Congress

(Newser) - Congress is about to receive a presidential request to approve a package combining aid to two allies embroiled in wars, the New York Times reports. President Biden "has made clear that he is going to go to Congress with a package of funding for Ukraine as well as continued...

Yellen: Signs Point Away From Recession

Treasury secretary expresses confidence about economy

(Newser) - Polls show Americans are feeling a bit better about the US economy lately, per the Wall Street Journal , and that includes Treasury Secretary Janet Yellen. Asked if the nation will be able to head off a recession while keeping inflation under control, she told Bloomberg , "I think you'd...

Amid Strained Relations, Yellen Visits China

Treasury chief addresses concerns that US is looking to decouple from China's economy

(Newser) - Treasury Secretary Janet Yellen appealed to China's No. 2 leader not to let frustration over US curbs on access to processor chips and other technology disrupt economic cooperation during a visit Friday aimed at improving strained relations. Meeting with Premier Li Qiang, the AP reports that Yellen said Washington...

Yellen Pinpoints Debt Deadline
Yellen Revises
Debt Deadline
May 26, 2023 5:15 PM CDT

Yellen Revises Debt Deadline

Treasury secretary tells Congress government will be out of cash by June 5

(Newser) - Treasury Secretary Janet Yellen on Friday updated the date when she projects the federal government will run out of cash to pay its bills to June 5, unless the debt ceiling is raised or suspended by then. That's more specific than she's been; Yellen previously had said it...

Biden Has Question About 14th Amendment

Yellen agrees there might be better ways to solve debt crisis

(Newser) - He probably has the authority to invoke the 14th Amendment to raise the debt ceiling without congressional approval, President Biden said Sunday, but he acknowledged that could lead to problems. "The question is, could it be done and invoked in time that it would not be appealed, and as...

Biden Calls Meeting as Yellen Issues Default Warning

President asks congressional leaders to White House

(Newser) - Unless Congress does something about the debt ceiling quickly, the federal government could run out of money to pay its bills by June 1, Treasury Secretary Janet Yellen said Monday. Her estimate adds pressure to lawmakers and President Biden to reach a deal to raise or suspend the debt limit,...

A Bank Collapsed. Next: Moves to Avoid a 'Contagion'

Media outlets detail Biden administration's frenzied weekend to try to keep banking crisis at bay

(Newser) - The collapse on Friday of Silicon Valley Bank , which was bookended by the shuttering of two other financial institutions, led to wider fears among Biden administration officials: the possibility of a "contagion" that could lead to a domino effect of failure among America's banks, as one White House...

Janet Yellen: Forget About Minting a $1T Coin

Treasury chief throws cold water on unusual solution to debt-limit standoff

(Newser) - Another debt-ceiling standoff is upon us, which means a bizarre-sounding idea is once again in circulation: Mint a $1 trillion coin to pay the nation's debts. Treasury chief Janet Yellen, however, suggests advocates should forget it because the nation's central bank probably would not accept such a coin,...

In Senegal, Yellen Recoils at the Business of Slave Trading

Treasury secretary says administration has not endorsed reparations

(Newser) - US Treasury Secretary Janet Yellen paid a solemn visit Saturday to the salmon-colored house on an island off Senegal that is one of the most recognized symbols of the horrors of the Atlantic slave trade that trapped tens of millions of Africans in bondage for generations. Yellen, in Senegal as...

Trump Advice May Put Republicans in 'Political Corner'

Former president warns GOP not to go after Social Security, Medicare in debt ceiling fight

(Newser) - The potentially calamitous fight over the debt ceiling has begun, and former President Trump weighed in emphatically on Friday with advice to his fellow Republicans. “Under no circumstances should Republicans vote to cut a single penny from Medicare or Social Security,” Trump said in a video posted to...

Big Political Fight Everyone Predicted Is Getting Underway

Treasury's Yellen says the US is about to hit debt limit, prelude to showdown in Congress

(Newser) - In other years, it might be a humdrum political matter: Treasury chief Janet Yellen told Congress on Friday the nation will hit its debt limit on Thursday, reports Politico . This year, however, the warning is expected to begin what promises to be a protracted and high-stakes fight between the White...

House GOPer Sends Letter to Yellen on Hunter Biden

Republicans have started their probe into president's son, as well as into Joe Biden's finances

(Newser) - In October, federal agents announced they'd gathered enough evidence to justify charging Hunter Biden with crimes. Now, House Republicans have jump-started their long-desired investigation of the president's son, as well as the involvement of ex-Twitter employees in handling reporting on him. Per the Hill , a letter sent Wednesday...

It's a 'Huge Milestone' for US Currency

New banknotes are the first to be signed by 2 women

(Newser) - Treasury Secretary Janet Yellen on Thursday helped mark a milestone in US history when she held up a newly minted $5 bill signed for the first time ever by two women. Yellen's signature will appear alongside that of US Treasurer Lynn Malerba, the first Native American in that position,...

Yellen: I Worked Hard on a Legible Signature for US Bills

'I knew this was something you could really screw up,' she tells Colbert

(Newser) - Treasury Secretary Janet Yellen's signature will soon appear on US currency—and she says she "practiced and practiced" to make sure it was legible, unlike the signatures of some of her predecessors. "Tim Geithner and Jack Lew signed the currency and their signatures were so illegible that...

A New Economic Term Enters the Lingo


A New
Economic
Term Enters
the Lingo
the rundown
Jul 19, 2022 8:43 AM CDT

A New Economic Term Enters the Lingo

Treasury chief Janet Yellen pushes 'friend-shoring' in South Korea speech

(Newser) - In a speech in South Korea on Tuesday, Treasury Secretary Janet Yellen pushed the idea of "friend-shoring" as economic policy. Broadly speaking, the new-ish term refers to the idea of trading more closely with allies instead of "geopolitical rivals," as the Wall Street Journal puts it. For...

2 Gloomy Forecasts Sour the Market's Mood

Yellen worries about inflation, the World Bank about stagflation

(Newser) - The US stock market did not wake up in a great mood on Wednesday, with the Dow and the benchmark S&P 500 both down about half a percentage point in early trading. That might have something to do with two dour forecasts issued Tuesday about the US and the...

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