The Biden administration is announcing new steps to increase access to affordable housing as still-high prices on groceries and other necessities and high interest rates have dramatically pushed up the cost of living in the post-pandemic years.
Treasury Secretary Janet Yellen is trying to project calm after regional bank failures, saying the U.S. banking system is “sound” but additional rescue arrangements “could be warranted” if any new failures at smaller institutions pose a risk to financial stability.
Treasury Secretary Janet Yellen on NBC’s “Meet the Press” on Sunday said the U.S. economy is slowing but pointed to healthy hiring as proof that it is not yet in recession.
President Joe Biden said Monday that he will decide by the end of the week whether he would support a federal gasoline tax holiday, possibly saving U.S. consumers as much as 18.4 cents a gallon.
Treasury Secretary Janet Yellen said Sunday that she expects the U.S. economy to slow in the months ahead, but that a recession is not inevitable.
As President Joe Biden embarks for Asia on Thursday, he’s facing a new risk at home for the economy and his Democratic Party: a global slowdown caused by Russia’s invasion of Ukraine and the pandemic shutting down Chinese cities and factories.
Treasury Secretary Janet Yellen walked back comments on Tuesday that the Federal Reserve may have to increase rates to deal with inflation.
Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell told Congress on Tuesday that more must be done to limit the economic damage from the coronavirus pandemic. Powell also reiterated that he does not expect programs aimed at reviving the economy will trigger unwanted inflation.
Treasury Secretary Janet Yellen said Sunday the country was still in a “deep hole” with millions of lost jobs but that President Joe Biden’s $1.9 trillion relief plan could generate enough growth to restore full employment by next year.
Janet Yellen, sworn in Tuesday as the nation’s 78th Treasury secretary and the first woman to hold the office, said in a message to the department’s 84,000 employees that they would play a major role in addressing the country’s biggest economic challenges.
The Senate approved President Joe Biden’s nomination of Janet Yellen to be the nation’s 78th treasury secretary on Monday, making her the first woman to hold the job in the department’s 232-year history.
Janet Yellen, President-elect Joe Biden’s choice as Treasury secretary, said Tuesday that the incoming administration would focus on winning quick passage of its $1.9 trillion pandemic relief plan, rejecting Republican arguments that the measure is too big given the size of U.S. budget deficits.
President-elect Joe Biden has chosen former Federal Reserve Chair Janet Yellen to serve as treasury secretary, a pivotal role in which she would help shape and direct his economic policies, according to a person familiar with the transition plans.
Former Federal Reserve Chair Janet Yellen was among a team of advisers who briefed Joe Biden on Thursday about the economic fallout from the coronavirus.
The Federal Reserve is considering changes to the annual stress tests it gives U.S. banks to move to a more risk-sensitive, firm-specific approach that would raise capital requirements for big banks based on their test results, according to its chair, Janet Yellen.
While markets wait for Janet Yellen’s latest message about the direction of monetary policy, the Federal Reserve chief and her colleagues already have one for politicians: the U.S. economy needs more public spending to shift into higher gear.
