The Latest Breaking News from Janet Yellen

That big infusion of cash that Congress approved last year to shape up the beleaguered IRS is having an unexpected side benefit

The White House says a default would cause a self-perpetuating crisis because the government couldn’t borrow money to help Americans deal with the resulting recession

Facing the risk of a government default as soon as June 1, President Joe Biden has invited the top four congressional leaders to a White House meeting for talks next week

White House press secretary Karine Jean-Pierre held a news briefingon Tuesday (2 May) as the deadline to raise the federal government’s $31.4 trillion debt ceiling looms.

Lawmakers have been given notice of a new deadline if they are to avoid a damaging default on U.S. debt: June 1, 2023.

It's time for President Joe Biden and House Speaker Kevin McCarthy to strike a deal that will avoid a default and cut spending.

Stock futures slip as Fed begins two-day policy meeting; Biden orders debt ceiling summit as new default risk emerges; Ford earnings on deck as carmakers fight narrowing margins; new Starbucks CEO Narasimhan to lead first quarterly earnings update and IBM plans hiring pause, will use AI to replace 7,800 jobs.

The timeline is more urgent than it looks, and a vast chasm remains between the two parties.

US Treasury Secretary Janet Yellen has written to congressional leaders warning that the federal government could run out of cash as early as June 1, unless they agree on raising the debt limit or suspending it. President Joe Biden has invited Republican House leader Kevin McCarthy for talks on May…