Janet Yellen

The anxiety this week centered on First Republic Bank in San Francisco, which was once the envy of the banking sector, with its wealthy and well-traveled clientele

The effort seeks to stop the California-based bank from becoming the third bank to fail in less than a week. Shares of First Republic had fallen sharply this week, dropping 60% on Monday alone

Yellen is the first Biden administration official to face lawmakers over the decision to protect uninsured money at two failed regional banks in California and New York

Federal Deposit Insurance Corp. officials told Republican senators Monday that they received offers for the bank over the weekend but didn’t have time to close

The Treasury Department, Federal Reserve and FDIC said Sunday that all Silicon Valley Bank clients will be protected

The US has provided nearly $50 billion in security, economic and humanitarian assistance and announced another multibillion dollar package to boost the country’s economy.

The first day of the meeting took place on the anniversary of Russia’s invasion of Ukraine

The first lady will highlight issues around empowering women and young people and food insecurity in the Horn of Africa

The economist gran into criticism last year for seeming, in comments at a conference, to doubt the science that says the burning of fossil fuels causes global warming

‘Household payments on mortgages, auto loans, and credit cards would rise, and American businesses would see credit markets deteriorate,’ she said

Biden has resisted direct negotiations over raising the nation’s legal debt ceiling, warning against potentially throwing the economy into chaos

‘It is possible for markets to become quite concerned about whether or not the US will pay its bills,’ the treasury secretary said

The economic benefits that major slave-trading nations, including the United States, reaped for hundreds of years on the backs of unpaid labor could amount to tens of trillions of dollars

What could be worrisome is not the existence of extraordinary measures, but what happens if they are exhausted this summer without a deal in place

The Treasury Department asks Congress to raise it and expect to begin taking extraordinary measures