The Treasury secretary pledged that the Biden administration would take additional steps as needed to support the banking system.
Author: Alan Rappeport
Takeaways From Biden’s Budget: The President Embraces His Priorities
President Biden said his budget was designed to “lift the burden on hard working Americans” and drew sharp contrasts with the proposals that Republicans have offered.
Senate Confirms Daniel Werfel as IRS Commissioner
The new commissioner of the Internal Revenue Service will oversee the agency’s $80 billion overhaul.
Biden’s World Bank Pick Looks to Link Climate and Development Goals
Ajay Banga will begin a monthlong “global listening tour” to drum up support for his nomination to be the bank’s next president.
U.S. Eyes Trade Deals With Allies to Ease Clash Over Electric Car Subsidies
The Biden administration has faced backlash in Europe and Asia over its plans to bolster electric vehicle and battery production.
Yellen Calls for More Ukraine Support and Warns China Against Helping Russia
Ahead of a meeting of G20 finance ministers, the Treasury secretary offered a dark assessment of Russia’s economy and warned China of the consequences of helping Moscow skirt U.S. sanctions.
U.S. Expected to Nominate New Head of World Bank on Thursday
The Biden administration wants the global development institution to pursue a more ambitious climate agenda.
Biden’s I.R.S. Nominee Is Grilled About $80 Billion Overhaul
Daniel Werfel defended the administration’s plan to modernize the agency during his confirmation hearing.
U.S. Could Default on Its Debt Between July and September, C.B.O. Says
The nonpartisan budget office also said that if tax receipts fall short of projections, and Congress fails to act on the debt limit, the U.S. could run out of cash before July.
Can A Trillion Dollar Coin Resolve the Debt Ceiling Crisis?
The latest standoff over raising the nation’s debt ceiling is giving new life to an old theory about how to avoid a default.