Economy is in the tank, banks are reeling, inflation is sky-high and there's more Biden isn't telling you
America's economy is slowing, there's a crisis of confidence in our banking system, inflation is white hot, real incomes are falling. SVB's collapse is Exhibit A for Biden's failures.foxnews.com
US government moves to stop potential banking crisis
The U.S. government took extraordinary steps Sunday to stop a potential banking crisis after the historic failure of Silicon Valley Bank, assuring depositors at the failed financial institution that they would be able to access all of their money quickly.
Yellen: No federal bailout for collapsed Silicon Valley Bank
Treasury Secretary Janet Yellen said Sunday that the federal government would not bail out Silicon Valley Bank, but is working to help depositors who are concerned about their money. The Federal Deposit Insurance Corporation insures deposits up to $250,000, but many of the companies and wealthy people who used the bank — known for its relationships with technology startups and venture capital — had more than that amount in their account. Yellen, in an interview with CBS' “Face the Nation,” provided few details on the government's next steps.news.yahoo.com
If you want to balance the budget without raising taxes or cutting defense, Social Security, and Medicare, you'd probably have to fire nearly every park ranger and cut 70% of anti-poverty spending
A CRFB analysis found that it'll take some massive spending cuts to balance the budget without touching Social Security and Medicare.news.yahoo.com
G-7, Europe reach deal for price cap on Russian diesel
U.S. Treasury Secretary Janet Yellen says industrialized countries in the Group of Seven are imposing a price cap on refined Russian oil products such as diesel and kerosene, as part of a coalition that includes Australia and a tentative agreement from the European Union.
Yellen says Africa to shape world economy as US reengages
U.S. Treasury Secretary Janet Yellen watched Ford cars and pickup trucks being assembled at a plant in South Africa and cited it as an example of cooperation between Washington and Africa as she begins the Biden administration's big push to reengage with the continent.
Treasury takes another 'extraordinary' step on debt limit
U.S. Treasury Secretary Janet Yellen sent a letter Tuesday to congressional leaders saying she's suspending the reinvestment of some federal bonds in a government workers' savings plan — an additional “extraordinary" measure to buy time for President Joe Biden and Congress to raise the nation's debt limit. Yellen said in the letter that as of Monday she also determined that the government “will be unable to invest fully” in the government securities portion of the thrift savings fund in the federal employees' retirement system.news.yahoo.com
Yellen in Zambia to discuss debt to China, public health
U.S. Treasury Secretary Janet Yellen is in Zambia on the second leg of her African tour, a stop aimed at promoting American investment and ties while she's in a capital city that is visibly dominated by Chinese dollars. Visitors to Lusaka arriving at the renovated Kenneth Kaunda International Airport see a facility expanded in 2015 with Chinese financing. Zambia became Africa’s first pandemic-era sovereign to default when it failed to make a $42.5 million bond payment in November 2020.news.yahoo.com
Door of No Return: Yellen visits onetime slave-trading post
U.S. Treasury Secretary Janet Yellen paid a solemn visit Saturday to the salmon-colored house on an island off Senegal that is one of the most recognized symbols of the horrors of the Atlantic slave trade that trapped tens of millions of Africans in bondage for generations. Yellen, in Senegal as part of a 10-day trip aimed at rebuilding economic relationships between the U.S. and Africa, stood in the Gorée Island building known as the House of Slaves and peered out of the “Door of No Return,” from which enslaved people were shipped across the Atlantic.news.yahoo.com
Poll: As debt battle looms, 55% of Americans say GOP House is 'dysfunctional'
By a massive 30-point margin, Americans say Republicans’ protracted battle earlier this month to elect a new House speaker is a sign that “Congress is dysfunctional” (55%) rather than “functioning as intended” (25%), according to a new Yahoo News/YouGov poll.news.yahoo.com