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Janet Yellen

National Debt

Is Washington finally getting serious about the debt ceiling?

by Sabri Ben-Achour , Alex Schroeder and Erika Soderstrom
May 19, 2023
Every day there's a warning about how catastrophic a default on the national debt would be. What's it going to take to avoid that?
House Speaker Kevin McCarthy
Win McNamee/Getty Images
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How would a U.S. debt default play out in Texas?

by Elizabeth Trovall
May 18, 2023
Half a million jobs could be lost in the second-biggest state economy. Pensioners, the food insecure and many others could suffer.
Treasury chief Janet Yellen has warned that the federal government could run out of money by June 1. Moody’s estimates that in a default, the giant Texas economy could lose more than half a million jobs.
Alex Wong/Getty Images
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Raising the Debt Ceiling

Yellen: U.S. could hit debt limit as soon as June 1

by Associated Press
May 1, 2023
The treasury secretary urges Congress to protect nation’s “full faith and credit” by raising the government’s borrowing authority.
In a letter to House and Senate leaders, the treasury secretary urged Congress “to protect the full faith and credit of the United States by acting as soon as possible.”
Stefani Reynolds/AFP via Getty Images
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Banks in Turmoil

Bank failures have some small business owners re-thinking their own banking arrangements

by Justin Ho
Mar 23, 2023
The failures of Silicon Valley Bank and Signature Bank have rattled some small business owners, even though contagion hasn’t spread to smaller banks.
Treasury Secretary Janet Yellen speaks at the American Bankers Association Washington Summit on March 21, 2023 in Washington, DC.
Drew Angerer/Getty Images
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Yellen: "Progress on inflation is not going to be a straight line"

by Kai Ryssdal , Andie Corban and Sarah Leeson
Mar 2, 2023
The Treasury secretary says "people don't need to lose their jobs" to cool down the labor market.
"There's a great sense of community but an enormous amount of trauma that everyone in Ukraine is experiencing," Treasury Secretary Janet Yellen says. Above, Yellen at a school in Kyiv earlier this week.
Genya Savilov/AFP via Getty Images
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Raising the Debt Ceiling

The U.S. hit its debt ceiling. Now it's time for “extraordinary measures.”

by Samantha Fields
Jan 19, 2023
Basically, Treasury will have to move money around so it can keep paying the country’s most important bills. At least for a little while longer.
Treasury Secretary Janet Yellen warned that her department would have to take "extraordinary measures" to keep the U.S. government from defaulting on its debt.
Alex Wong/Getty Images
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The U.S. tries to build support for a price cap on Russian oil

by Lily Jamali
Jul 13, 2022
Experts say buy-in from China and India would be key to making the policy work.
The U.S. and its allies hope to create a "buyers cartel" aimed at reducing Russia's oil revenue in response to its attack on Ukraine.
Frederic J. Brown/AFP via Getty Images
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Biden's tariff choice: Cut them in hopes of easing inflation or keep them as leverage against China

by Lily Jamali
Jul 5, 2022
The Treasury secretary and the trade representative disagree on the issue.
President Biden could reportedly make a decision about rolling back tariffs on some Chinese goods as soon as this week. In his Cabinet, opinions on the issue differ.
Brendan Smialowski/AFP via Getty Images
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"We simply must pay our bills": Janet Yellen on debt, inflation, infrastructure and what the economy needs

by Kai Ryssdal and Andie Corban
Nov 9, 2021
The Treasury secretary doesn't see a 1970s-style inflation shock on the horizon. "The Federal Reserve wouldn’t permit that to happen."
Treasury Secretary Janet Yellen in Glasgow, Scotland, last week for the United Nations Climate Change Conference.
Christopher Furlong/Getty Images
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Raising the Debt Ceiling

The origin of the U.S. debt ceiling

by Kai Ryssdal and Maria Hollenhorst
Nov 2, 2021
Congress is once again considering raising the debt limit. When did that start?
A sign at a Washington, D.C., bus stop showed the amount of the national debt on Oct. 25. The clock is ticking on another debt ceiling agreement to prevent a default.
Julie Chabanas/AFP via Getty Images
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