The IMF urges United States to seek definitive solution to debt ceiling crisis
The international agency foresees high interest rates until the end of 2024 due to persistent inflation and a resilient economy
Biden says debt default deal ‘very close’ while deadline now set at June 5
Americans and the world are watching with concern the negotiating brinkmanship that could throw the U.S. economy into chaos and sap world confidence in the nation’s leadership
X marks the spot: Yellen tells Congress US could run out of money to pay all its bills by June 5
The Treasury Secretary’s comments come as Congress breaks for the three-day Memorial Day weekend, and as tensions build over whether a deal between the White House and Republicans in Congress will be struck in time
Threat of US credit downgrade looms over debt ceiling talks
The rating agency Fitch has put the nation’s credit on ‘Rating Watch Negative,’ which amounts to a warning that it might downgrade the nations’ credit as a result of the debt ceiling impasse
Debt ceiling explained: Why it’s a struggle in Washington and how the impasse could end
Republicans are insisting on spending cuts in exchange for raising the debt limit, while Biden says the GOP lawmakers will have to back off their “extreme positions”
Job cuts, no Social Security checks: How consumers could be pinched by a US government default
The United States could run out of money to pay its bills as soon as June 1 if no deal is reached to raise the debt limit
In debt ceiling standoff, COVID era of big spending gives way to new focus on deficit
President Joe Biden has said recouping unspent coronavirus money is “on the table” in budget talks with Congress
Biden and McCarthy meeting ends without progress on the debt ceiling
“That’s no way to govern,” the Republican leader has said. The White House “does not have a plan B,” he added
US debt ceiling: Will Biden and McCarthy be able to strike a deal on Tuesday?
The president and the House speaker will meet today to discuss the standoff, which, according to a White House report, is already taking a toll on the nation’s economy
Yellen: ‘No good options’ if Congress fails to act on debt
In a TV interview Sunday, the US Treasury Secretary didn’t rule out President Joe Biden acting on his own to try to avert a first-ever federal default
Janet Yellen, the perfectionist economist who shatters all glass ceilings
The Treasury Secretary, a far-seeing and meticulous woman, faces the looming threat of the United States government defaulting on its debt
Treasury Secretary Yellen says US could hit debt ceiling as soon as June 1
In a letter Monday to House and Senate leaders, Yellen urged Congressional leaders “to protect the full faith and credit of the United States by acting as soon as possible”
Biden calls to revive bank regulations that Trump weakened
The public push is part of a larger effort by the Biden administration to safeguard the U.S. economy and ensure that individual bank failures can be contained without triggering a chain reaction across the wider financial system
U.S. makes corporate transparency commitment with 20 nations
The Biden administration is already pursuing regulations to establish a new database on small business ownership
Bank failures and rescue test Yellen’s decades of experience
Perhaps no treasury secretary has arrived with such an ample resume. All of her know-how was put to a severe test as she worked to assure multiple constituencies, including financial markets, balky Republicans in Congress and President Joe Biden’s White House economic team
Treasury Secretary Janet Yellen says bank situation is ‘stabilizing’
She added that additional rescue arrangements ‘could be warranted’ if any new failures at smaller institutions pose a risk to financial stability
The White House makes the case for more government support for child care programs
The Biden administration says additional spending would improve kids’ lives, increase quality of early childhood schooling and enable more women to hold jobs
Questions and answers about the cost of the bank collapses
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How is the response being paid for? Will Americans end up footing the bill for bank failures? Is this a bailout?
Washington turns to Wall Street to help rescue dying bank
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
Big banks create $30 billion rescue package for First Republic
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 tells Congress US banking system ‘remains sound’
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
How Washington came to rescue US banks
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
US government moves to stop potential banking crisis
The Treasury Department, Federal Reserve and FDIC said Sunday that all Silicon Valley Bank clients will be protected
Yellen visits Ukraine, underscores US economic support
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.
G-20 meeting in India ends without consensus on Ukraine war
The first day of the meeting took place on the anniversary of Russia’s invasion of Ukraine
US announces sweeping new Russia sanctions one year into war
The action seeks to punish 250 people and firms and puts financial blocks on banks, arms dealers and technology companies tied to weapons production
Jill Biden to visit Namibia, Kenya, part of US-Africa push
The first lady will highlight issues around empowering women and young people and food insecurity in the Horn of Africa