The Latest Breaking News from Janet Yellen

G-7 pledges to move forward with Russia oil price cap system

Finance ministers from the Group of Seven industrial powers have pledged to put in place a system designed to cap Russia’s income from oil sales, an idea the nations’ leaders had promised to explore in June

The Independent UK · Sep 2, 2022

G7 agree price cap on Russian oil to stop Putin’s ‘ability to fund war of aggression’

The cap is expected to be introduced in December for crude oil and for petroleum products in February

Evening Standard · Sep 2, 2022

Janet Yellen kicks off month-long economic victory tour to sell Biden's achievements

The Treasury secretary plans to spend some of her intellectual capital to make the case for Biden's economy.

Axios · Sep 1, 2022

Expanded IRS free-file system one step closer in Dems' bill

The flagship climate change and health care bill passed by Democrats and soon to be signed by President Joe Biden will bring U.S. taxpayers one step closer to a government-operated electronic free-file tax return system

The Independent UK · Aug 13, 2022

Don't Believe the White House's Promises About Who the New IRS Will Audit

Media "fact-checkers" are taking administration promises at face value and using them to bludgeon Republicans.

Reason · Aug 12, 2022

Biden team pushes to allay concerns about tax enforcement funds

US Treasury secretary directs IRS chief against using new resources to audit more households making less than $400,000.

Al Jazeera · Aug 11, 2022

Friendshoring: what is it and can it solve our supply problems?

With offshoring now faltering, a US-led trend sees firms shifting manufacturing and more to countries with shared values. But this won’t be cost-free

The Guardian - UK · Aug 6, 2022

Who are the eight economists who decide when the US is in a recession?

The US Commerce Department on Thursday announced that the country’s gross domestic product had fallen for the second consecutive quarter, although President Joe Biden said the economic data overall “doesn’t sound like a recession”. In most countries, two successive quarters of GDP decline qualify as a recession – but not…

France 24 · Jul 31, 2022

'Wikipedia Is Losing Its Objectivity': Elon Musk Responds To Recession Definition Changing, Page Being Locked

Free community based online encyclopedia Wikipedia allows users to update sites with information and facts. Sometimes users take things too far and post funny items or inaccurate information. In the case of the word “recession,” multiple attempts to change the definition led to the page being locked.

Benzinga · Jul 30, 2022

U.S. economy just had a 2nd quarter of negative growth. Is it in a recession?

GDP shrank for a 2nd quarter in a row. While two consecutive quarters of negative growth is often considered a recession, it's not an official definition. Parts of the economy are clearly struggling.

WEKU · Jul 28, 2022