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Stories 1 - 20 |
Jun 8, 2022 9:45 AM CDT
2 Gloomy Forecasts Sour the Market's Mood
Yellen worries about inflation, the World Bank about stagflation
- The US stock market did not wake up in a great mood on Wednesday, with the Dow and the benchmark S&P 500 both down about half a percentage point in early trading. That might have something to do with two dour forecasts issued Tuesday about the US and the...
I Was Wrong
Jun 1, 2022 1:06 AM CDT
Janet Yellen: I Was Wrong About Inflation
Treasury secretary says she did not accurately predict 'the path that inflation would take'
- Last year, Treasury Secretary Janet Yellen said that inflation posed just a "small risk" to Americans. Now, she's admitting she didn't get that quite right. "I think I was wrong then about the path that inflation would take," Yellen told CNN Tuesday when Wolf Blitzer...
Western Allies Clear Room
When Russians Speak at G20
Apr 20, 2022 5:25 PM CDT
Western Allies Clear Room When Russians Speak at G20
Yellen says she can't abide 'business as usual' after invasion
- Western allies took another step toward isolating Russia on Wednesday when their representatives walked out of a G20 meeting as the country's financial officials spoke. Delegations from Britain, Canada, and the US—including Treasury Secretary Janet Yellen—left the session in Washington, Reuters reports. Yellin said she objected to...
New 'Remarkable' Women's
Quarters Starts With a Big One
Jan 11, 2022 8:31 AM CST
New 'Remarkable' Women's Quarters Starts With a Big One
US Mint has started shipping quarters with image of poet Maya Angelou, first in a series
- The United States Mint said Monday it has begun shipping quarters featuring the image of poet Maya Angelou, the first coins in its American Women Quarters Program. Angelou, an American author, poet, and civil rights activist, rose to prominence with the publication of
I Know Why the Caged Bird Sings
Under Quirky Law, We
Really Could Mint a $1T Coin
Oct 6, 2021 8:14 AM CDT
Under Quirky Law, We Really Could Mint a $1T Coin
'Gimmick' floated as one solution to the debt-ceiling impasse
- Some politicians think they've found a silver bullet for the impasse over the debt limit, except the bullet is made of platinum: Mint a $1 trillion coin and use it to flood the treasury with cash. Even its serious proponents— Paul Krugman is one of them —call it...
Apr 5, 2021 4:34 PM CDT
Yellen Wants Minimum Global Corporate Tax
Treasury secretary criticizes nation-by-nation cuts
- Treasury Secretary Janet Yellen on Monday urged the adoption of a minimum global corporate income tax, an effort to offset any disadvantages that might arise from the Biden administration's proposed increase in the US corporate tax rate. Citing a "30-year race to the bottom" in which countries have...
Janet Yellen at Helm of
Treasury Is a Big First
Jan 26, 2021 12:01 AM CST
Janet Yellen at Helm of Treasury Is a Big First
Senate OKs Biden's nominee, making her the first woman to lead the department
- The Senate on Monday approved President Biden's nomination of Janet Yellen to be the nation's 78th Treasury secretary, making her the first woman to hold the job in the department's 232-year history. Yellen, a former chair of the Federal Reserve, was approved by the Senate in an...
Trump Says, but
Not to Biden
Nov 24, 2020 2:10 PM CST
Congratulations, Trump Says, but Not to Biden
President praises administration and nation as Dow breaks 30,000
- President Trump had no public appearances scheduled Tuesday before the annual pardoning of the Thanksgiving turkey in the afternoon, but events changed that. With only moments' notice, the president walked into the White House briefing room to make the announcement, the Hill reports. "The stock market Dow Jones Industrial...
Report: Biden Has Picked
Yellen for Treasury Secretary
Nov 23, 2020 4:25 PM CST
Report: Biden Has Picked Yellen for Treasury Secretary
She chaired the Fed from 2014 to 2018
- The first woman to lead the Federal Reserve is set to become the first female Treasury secretary. Sources tell the
Wall Street Journal
and the AP that President-elect Joe Biden has tapped 74-year-old labor economist Janet Yellen, who chaired the Fed from 2014 to 2018, for the role. Yellen also...
Trump's Former Fed Chief
Is Hitting Back at Him
Feb 26, 2019 5:55 AM CST
Trump's Former Fed Chief Is Hitting Back at Him
Janet Yellen says POTUS does not understand the Fed
- Janet Yellen, who was chair of the Federal Reserve until President Trump replaced her with Jerome Powell, says she doesn't think the POTUS understands economic policy or the Fed. In an extensive interview with the radio program
Yellen cited Trump's statements "about the Fed having an...
US Fed Caps Wells Fargo's
Assets in 'Unprecedented' Move
Feb 3, 2018 2:00 PM CST
US Fed Caps Wells Fargo's Assets in 'Unprecedented' Move
Bank can't grow until it proves widespread misconduct is in the past
- In what CNN calls an "unprecedented" punishment, the US Federal Reserve on Friday ordered Wells Fargo to halt all growth until "it sufficiently improves its governance and controls" in the wake of "pervasive and persistent misconduct." The bank admitted in 2016 to opening 3.5 million...
Fed Makes Rate Hike
Despite Lack of Inflation
Dec 13, 2017 2:11 PM CST
Fed Makes Rate Hike Despite Lack of Inflation
Federal Reserve boosts key short-term interest rate
- As expected, the Federal Reserve has boosted a key short-term interest rate at the last US central bank meeting that Janet Yellen is expected to lead, the AP reports. Fed officials ended their two-day meeting by hiking the federal funds rate—what banks charge each other for short-term loans—to...
Federal Reserve Chair
Nov 21, 2017 12:12 AM CST
Federal Reserve Chair Submits Resignation
Janet Yellen will depart board when term ends
- Janet Yellen submitted her resignation from the Federal Reserve board to President Trump on Monday, announcing that she will leave when her successor is sworn in as Fed chairman. In a letter to the president, Yellen said she would do her "utmost" to ensure a smooth transition to Jerome...
Name of Trump's Likely Pick
for Fed Chair Released
Oct 30, 2017 6:32 PM CDT
Name of Trump's Likely Pick for Fed Chair Released
The president has been looking for a replacement for Janet Yellen
- Even as the White House is reeling from the indictments of three former presidential campaign officials, Donald Trump is reportedly moving along with plans to replace the chairwoman of the Federal Reserve, Janet Yellen, the
New York Times
reports. After several months of speculation and hype from the president, administration...
Cohn's Trump Criticism
May Cost Him Fed Chief Post
Sep 7, 2017 7:56 AM CDT
Cohn's Trump Criticism May Cost Him Fed Chief Post
'Wall Street Journal' reports the president is unlikely to appoint him
- White House adviser Gary Cohn delivered a public rebuke of President Trump after the violence in Charlottesville, and the
Wall Street Journal
reports that it might have cost him his chance at becoming the next Federal Reserve chief. The newspaper says the president is now unlikely to appoint Cohn to...
May Cost Her
Aug 25, 2017 2:48 PM CDT
Yellen's Defense of Post-Crisis Regulations May Cost Her
The White House isn't going to like it
- Federal Reserve Chair Janet Yellen on Friday emphatically defended the web of regulations the Fed helped enact after the 2008 financial crisis, saying it helped restore the banking system's health and disputing criticism that the rules have hurt lending, the AP reports. Yellen said the Fed is prepared to...
Yellen: Next Financial Crisis
Hopefully Not 'in Our Lifetimes'
Jun 27, 2017 3:55 PM CDT
Yellen: Next Financial Crisis Hopefully Not 'in Our Lifetimes'
She says reforms have made the financial system safer
- Federal Reserve Chair Janet Yellen said Tuesday that banking reforms now in place have made the financial system safer, and the world should be able to avoid the type of devastating crisis that struck the global economy in 2008. Speaking at the British Academy in London, Yellen said that the...
Interest Rates Hit a Milestone
for First Time Since 2008
Jun 15, 2017 1:20 AM CDT
Interest Rates Hit a Milestone for First Time Since 2008
Fed signals belief in strong economy
- The Federal Reserve signaled confidence in a strong economy Wednesday with its second interest rate hike of 2017, bringing its benchmark rate up a quarter-point to push it over 1% for the first time since the 2008 financial crisis. The move, which brings the range to between 1% and 1....
Trump: US Dollar Is
'Getting Too Strong'
Apr 13, 2017 6:32 AM CDT
Trump: US Dollar Is 'Getting Too Strong'
He shifted on 3 policies in WSJ interview
- President Trump managed to do an about-face on no less than three policies in an interview with the
Wall Street Journal
on Wednesday—and he made what analysts say were highly unusual comments about the American dollar in the process. "I think our dollar is getting too strong, and...
Fed Jacks Key Rate
for 2nd Time in 3 Months
Mar 15, 2017 1:21 PM CDT
Fed Jacks Key Rate for 2nd Time in 3 Months
And signals more hikes are ahead in 2017
- The Federal Reserve has raised its benchmark interest rate for the second time in three months and signaled that any further hikes this year will be gradual. The move Wednesday reflects a consistently solid US economy and will likely mean higher rates on some consumer and business loans. The Fed'...
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