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The Latest Breaking News from Janet Yellen

U.S. hits its debt limit and now risks defaulting on its bills

The U.S. is undertaking "extraordinary" measures to avoid defaulting on its obligations after the country reached its debt limit on Thursday. Now, a big political fight looms.

WEKU

US starts using extraordinary measures to avoid default

The period of time that extraordinary measures may last is subject to ‘considerable uncertainty’ Janet Yellen warned.

Al Jazeera

Treasury begins special measures to avoid breaching US debt limit

The Treasury Department is beginning the use of special measures to avoid a U.S. payments default, after the federal debt limit was reached Thursday.

Tribune News Service

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Treasury taps retirement funds to avoid breaching US debt limit

The Treasury Department is beginning the use of special measures to avoid a US payments default, after the federal debt limit was reached Thursday.

Tribune News Service

Yellen starts off trip to Africa with commitment to stay for the long haul

The Biden administration is trying to counter China’s influence on the continent.

Axios

Deeper ties on Yellen's mind as U.S begins year of African engagement

U.S. Treasury Secretary Janet Yellen will kick off a year of visits by top U.S. officials to Africa on Friday aiming to firm up U.S.-Africa ties after decades in which China has dominated investment across the continent.

Reuters

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Yellen to visit Beijing in further sign of US-China thaw

Tribune News Service

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Yellen to visit Beijing in further sign of US-China thaw

Plans are under way for U.S. Treasury Secretary Janet Yellen and her Chinese counterparts to hold meetings in Beijing and Washington later this year, continuing the governments’ efforts to ramp up face-to-face engagement to improve ties.

Tribune News Service

Yellen plans first trip to China as Treasury secretary

The trip is the latest effort by both countries to improve relations and avoid misunderstandings.

Axios

4 ways around a debt ceiling crisis — and why they might not work

From an obscure congressional maneuver to a trillion-dollar coin, there are many ideas out there to help the U.S. avoid debt default, but they are untested and have major potential problems.

WEKU

Editorial: If McCarthy won’t defend the global economy, Biden and Yellen must

Fast forward to this fall. Americans are thinking about Halloween costumes or how their kids are faring in the new school year, but one more pressing and widespread concern occupies the nation’s minds: the collapsing global economy, which has been spinning out with no signs of slowing, leading to heavy…

Tribune News Service

US-China officials to meet on economy, aim to ease tension

U.S. Treasury Secretary Janet Yellen is set to sit down with her Chinese counterpart in Switzerland on Wednesday

The Independent UK

White House says no debt bargaining as McCarthy urges talks

WASHINGTON — House Speaker Kevin McCarthy called on Democrats to engage in talks with Republicans over a fiscal plan including an increase in the federal debt limit, while the White House reiterated its rejection of such negotiations, highlighting the risk of a market-rattling battle over the ceiling later this year.

Tribune News Service

McCarthy calls for immediate negotiations on budget, debt limit

Tribune News Service

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The Independent UK

EXPLAINER: How ominous is the debt limit problem?

The federal government is on the brink of hitting its legal borrowing limit on Thursday

Salon

Columnist exposes House GOP tax scam

Washington Post's Catherine Rampell exposes a provision tucked into Republicans' House Rules package

The Independent UK

Asian shares slip as China says economy slowed further

Asian shares are mostly lower after China reported its economy expanded at a 3% pace last year, less than half 2021's rate

Tribune News Service

Yellen sets surprise meeting with China’s vice premier in Switzerland

WASHINGTON — U.S. Treasury Secretary Janet Yellen will hold her first face-to-face meeting with Chinese Vice Premier Liu He on Wednesday in Zurich, making a detour on her way to talks in Africa.

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The Independent UK

Economic woes, war, climate change on tap for Davos meeting

The World Economic Forum is back with its first winter meetup since 2020 in the Swiss Alpine town of Davos

The Independent UK

Yellen to meet with Chinese finance minister in Switzerland

Treasury Secretary Janet Yellen is set to meet with her Chinese counterpart in Switzerland on Wednesday

Reuters

Davos 2023: Yellen to meet China's vice premier Liu He - U.S. Treasury

U.S. Treasury Secretary Janet Yellen will meet Chinese Vice Premier Liu He in Switzerland on Wednesday to exchange views on economic developments and deepen communication between the world's two largest economies, a Treasury official said.

Tribune News Service

GOP lawmakers say they ‘won’t budge’ on spending cuts in debt limit negotiations

WASHINGTON — House Republicans “won’t budge” on demands for federal spending cuts in return for agreeing to lift the debt ceiling and avoid a U.S. payment default, GOP Rep. James Comer said.

Tribune News Service

Yellen heads to Africa with US seeking to counter China’s influence

U.S. Treasury Secretary Janet Yellen departs Tuesday to visit three African countries central to President Joe Biden’s strategy to rejuvenate ties on the continent and counter China’s influence across the developing world.

WEKU

The U.S. could hit its debt ceiling within days. Here's what you need to know.

The U.S. is expected to hit its debt ceiling Thursday, forcing the Treasury to take "extraordinary measures" to pay off its bills. A political stalemate could lead to an unprecedented federal default.

Tribune News Service

Yellen says US to take extraordinary steps to avert a default

WASHINGTON — Treasury Secretary Janet Yellen said the department will begin taking special accounting maneuvers on Jan. 19 to avoid breaching the U.S. debt limit, urging lawmakers to boost the ceiling to avert a devastating payments default.

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