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The Latest Breaking News from Janet Yellen

US Treasury To Take 'Extraordinary Measures' To Avoid Debt Default

The US Treasury Department will start taking "extraordinary measures" next week to avoid risking a default on government debt, Secretary Janet Yellen said Friday, days before President-elect Donald Trump takes office.

International Business Times

Yellen says Treasury will use 'extraordinary measures' on Jan. 21 to prevent hitting debt ceiling

In one of her last acts as Treasury Secretary, Janet Yellen said her agency will start taking “extraordinary measures,” or special accounting maneuvers intended to prevent the nation from hitting the debt ceiling, on January 21, in a letter sent to congressional leaders Friday afternoon

The Independent UK

Treasury Nominee Supports Tougher Sanctions On Russia

Biden administration imposes new sanctions on Russian oil entities to disrupt funding for Ukraine conflict.

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Trump's Treasury Secretary Nominee Claims There Will Be 'Economic Calamity' If Republican Tax Cuts Are Not Extended

Scott Bessent warned about the dangers of not extending tax cuts implemented during Donald Trump's first term.

International Business Times

Yellen Warns Against Extending Trump Era Tax Cuts: 'Unsustainable'

US Treasury Secretary Janet Yellen warned Wednesday that plans to extend President-elect Donald Trump's 2017 tax cuts -- which remained in place under Joe Biden but are set to expire -- will add to unsustainable deficits.

International Business Times

Janet Yellen's Short-Term Thinking Could Cost the U.S. Big

The Treasury Secretary’s debt decisions during the pandemic locked in low rates—but only for two years. Now, taxpayers are paying the price.

Reason

Will 2025 Be the Year of U.S. Fiscal Sanity?

With inflation risks persisting and entitlement spending surging, the situation cannot be ignored. But we never should have gotten to this point to begin with.

Reason

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Chinese government hackers targeted US Treasury office that administers sanctions – report

Treasury disclosed hack earlier this week, with Washington Post reporting targets were Office of Foreign Assets Control and Office of Financial Research

The Guardian - AU

Trump Criticizes Mccarthy Over Debt Ceiling Suspension Decision

President-elect Trump criticizes debt ceiling suspension, urges prompt action. Treasury Secretary emphasizes urgency.

Top News

Janet Yellen warns Congress ‘extraordinary measures’ will be needed to stop US hitting debt limit

Yellen said the treasure will need to take ‘extrodinary measures’ to prevent the nation from hitting the debt ceiling early next year

The Independent UK

Janet Yellen Warns Congress Will Need to Take 'Extraordinary Measures' to Avoid Hitting Debt Ceiling Next Month

Treasury Secretary Janet Yellen warned congressional leaders Friday that "extraordinary measures" will soon be required to prevent breaching the debt ceiling.

International Business Times

Janet Yellen issues warning to Congress as US nears debt limit

Treasury secretary says ‘extraordinary measures’ needed to avoid default, and urges lawmakers to raise borrowing limit

The Guardian - US

Treasury Secretary Yellen Warns Of Impending Debt Ceiling Crisis

Treasury Secretary Yellen warns of impending debt ceiling breach, urges Congress action to protect U.S. credit. Inflation raises government borrowing costs.

Top News

US-China Officials To Hold Economic Talks Before Trump Return

Economic officials in outgoing President Joe Biden's administration are set to meet their Chinese counterparts this week for talks, in a final effort to strengthen ties before Donald Trump's White House return.

International Business Times

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International Business Times

Trump's Tariff Plans May 'Derail' US Inflation Progress: Yellen

US President-elect Donald Trump's proposals to impose sweeping tariffs on imports could counter earlier efforts to cool inflation, Treasury Secretary Janet Yellen said Tuesday, warning that consumer prices could rise.

International Business Times

US Disburses $20 Bn Ukraine Loan Backed By Profits From Russian Assets

The United States announced Tuesday that it has disbursed a $20 billion loan for Ukraine backed by the interest earned on frozen Russian assets, as part of a $50 billion G7 support package.

The Independent UK

Secret Service agent fired at suspects outside of Janet Yellen's house in Washington DC

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 with the occupants of a sedan

Top News

Secret Service Agent Fires On Carjackers Outside Treasury Secretary's Home

Incidents involving gunfire by law enforcement agents during attempted carjackings in Washington, D.C. No injuries reported.

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International Business Times

US Steel Stock Plunges After Trump Vows To Block Nippon Steel Takeover

The president-elect claims he will help the company 'strong and great again.'

International Business Times

Trump Says Will 'Block' Nippon Steel From Taking Over US Steel

US President-elect Donald Trump on Monday said he would "block" a planned takeover of US Steel by Japanese company Nippon Steel, a deal worth $14.9 billion including debts.

The Guardian - UK

Ignore the online CV truthers. If anything, Rachel Reeves is overqualified to be UK chancellor

Gordon Brown and George Osborne studied history, but neither faced the questions of suitability levelled at the first woman in the job, says Guardian columnist Gaby Hinsliff

International Business Times

US Lawmakers Warn Hong Kong Becoming Financial Crime Hub

US lawmakers urged the government Monday to rethink banking ties with Hong Kong, citing its "increasing role" in money laundering, sanctions evasions and reported funneling of banned technology to Russia.

Fortune

Polymarket users are betting on Scott Bessent to be Trump’s treasury secretary

The prediction market puts Bessent’s odds of getting the nod at 67%.

International Business Times

G7 Finalize $50 Bn Ukraine Loan Backed By Russian Assets Profits

G7 leaders have finalized details surrounding a $50 billion loan to aid Kyiv, backed by profits from Russian sovereign assets frozen after its invasion of Ukraine, according to a statement released Friday.

The Guardian - UK

Rachel Reeves basks in IMF backing for UK budget rules overhaul

In one session after another, IMF officials repeated backing for principle of increased borrowing to drive growth

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