U.S. Treasury Secretary Janet Yellen says she's suspending the reinvestment of 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.
Senate Republican Leader Mitch McConnell has said the U.S. will not default, but it’s unclear how Biden can reconcile his insistence on a clean increase with McCarthy’s demand for spending cuts.
But Jean-Pierre said that deficit reduction should not be tied to whether the U.S. government pays its bills that are already being incurred.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. Treasury's Yellen says IRS needs to be 'completely redone'U.S. Treasury Secretary Janet Yellen on Sunday said rebuilding the Internal Revenue Service would be one of her top priorities in coming years, putting her squarely at odds with Republicans who have taken control of the House of Representatives.
Read more »
US Treasury’s Yellen says IRS needs to be ‘completely redone’Republicans sought unsuccessfully to slash tens of billions in IRS funding from the law.
Read more »
US Treasury Sec. Yellen: Overall good feeling that inflation is coming downUS Treasury Secretary Janet Yellen said on Monday that overall, she has a “good feeling that inflation is coming down.” “US labor market is still very
Read more »
Yellen says debt-limit standoff risks ‘self-imposed calamity’Treasury Secretary Janet Yellen said in an interview Saturday she expects Congress will ultimately vote to raise America’s debt limit, but GOP demands for spending cuts in return for backing an increase are “a very irresponsible thing to do.”
Read more »
Debt ceiling kabuki: Republicans will cave and U.S. government finances will get even worseHere we go again. Treasury Secretary Janet Yellen warns that the federal government’s borrowing limit has been reached.
Read more »