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The Latest Breaking News from Janet Yellen

The U.S. could run out of cash to pay its bills between July and September

If Congress fails to raise the nation's $31.4 trillion debt ceiling, the U.S. government could run out of cash between July and September, or even sooner, the Congressional Budget Office said.

WEKU

Biden names Fed vice chair as top economic advisor

Washington (AFP) - US President Joe Biden has chosen Federal Reserve Vice Chair Lael Brainard to be his top economic advisor, ahead of a potential reelection campaign and as the administration battles stubbornly high inflation.

AFP

Yellen warns of 'catastrophe' if debt limit not raised

Treasury Secretary Janet Yellen is warning that the U.S. faces “economic catastrophe” if Congress and the White House don’t take action to raise the federal debt limit

The Independent UK

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Biden picks Fed's Lael Brainard for National Economic Council

He'll also have to nominate her replacement as Fed vice-chair.

Axios

After balloon saga, can China and US re-engage?

When US Secretary of State Antony Blinken this month called off his trip to Beijing, he chose his words carefully. China's launch of a spy balloon on a high-altitude journey over the United States was unacceptable and irresponsible, he said, but he was postponing -- not cancelling -- his visit.

Bangkok Post

After spy balloon incident, can China and the US talk again?

Bangkok Post

Analysis-After spy balloon incident, can China and the U.S. talk again?

When U.S. Secretary of State Antony Blinken this month called off his trip to Beijing, he chose his words carefully. China's launch of a spy balloon on a high-altitude journey over the United States was unacceptable and irresponsible, he said, but he was postponing - not canceling - his visit.

Reuters

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World Bank revamp to start by April on push to broaden mission: Yellen

Washington (AFP) - The first stages of a World Bank revamp are set to begin by April, amid a push for lenders to evolve and meet global challenges like climate change, US Treasury Secretary Janet Yellen said Thursday.

AFP

Yellen wants bolder World Bank steps on climate change, global issues

U.S. Treasury Secretary Janet Yellen urged the World Bank to map out "bolder and more imaginative" steps on Thursday to address global challenges such as climate change even as it continues to aid individual developing countries.

Reuters

'Good policy' for EU to match US green plan with own subsidies: Yellen

Spring Hill (United States) (AFP) - US Treasury Secretary Janet Yellen on Wednesday encouraged the idea of green subsidies by the European Union to offset feared harm from a vast US climate plan -- arguing there is enough business for all to benefit from the clean energy transition.

AFP

Yellen says 'good policy' for EU to match US green plan with own subsidies

AFP

US, EU ministers agree on need for 'full transparency' in green subsidies

Washington (AFP) - US officials and the French and German economy ministers have agreed on the need for "full transparency" on green subsidies, following high-stakes talks in Washington over President Joe Biden's ambitious climate action plan.

AFP

French, German ministers in Washington to defend EU economies

The French and German economy ministers, Bruno Le Maire and Robert Habeck, kick off high-stakes talks with US officials Tuesday to underscore European concerns over President Joe Biden's ambitious climate action plan.

Radio France Internationale

‘Hope is not a strategy’: BofA CEO warns corporate America must prepare for the worst around debt ceiling

Bank of America CEO, Brian Moynihan, said now is not the time to start tweaking the 250-year-old Constitution.

Fortune

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AFP

French, German ministers to tackle green subsidies with US

Washington (AFP) - The French and German economy ministers, Bruno Le Maire and Robert Habeck, kick off high-stakes talks with US officials Tuesday to underscore European concerns over President Joe Biden's ambitious climate action plan.

The Street

Fear of Recession Recedes; Here's What Janet Yellen Thinks

Nonfarm payrolls soared 517,000 in January, while the unemployment rate dropped to a 53-year low of 3.4%.

Fortune

The Treasury secretary says the red-hot labor market means the U.S. can avoid a recession: ‘You don’t have a recession when you have 500,000 jobs and the lowest unemployment rate in more than 50 years’

“The country has been through a lot…But really we have a strong and resilient economy,” Yellen told ABC. “And inflation is coming down.”

Fortune

IMF: U.S. economy might yet manage to pull off a soft landing and avoid recession

Treasury Secretary Janet Yellen also downplayed the risk of the U.S. economy contracting: “You don’t have a recession when you have 500,000 jobs and the lowest unemployment rate in more than 50 years.”

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The Street

$1 Trillion Coin: An Idea to Avoid Government Default

If the Biden administration and Congress can’t agree to lift the debt ceiling in coming months, default may ensue.

The Independent UK

Biden, McCarthy to meet, discuss debt ceiling at White House

President Joe Biden and House Speaker Kevin McCarthy are preparing for their first meeting since the GOP leader took power

The New Daily

Alan Kohler: The RBA is fighting for its purpose … and its life

Let’s have a sort of “upper-level extension” to the RBA in the fight against inflation, writes Alan Kohler.

The Conversation

South Africa and Russia: President Cyril Ramaphosa's foreign policy explained

January was a busy diplomatic month for South Africa. The country hosted Russian foreign minister Sergei Lavrov and US treasury secretary Janet Yellen. Josep Borrell, vice-president of the European Commission, was also in town.

The Guardian - US

Can a trillion-dollar coin end the US debt-ceiling standoff?

Advocates say such a coin would be one option to bypass the debt ceiling, but others believe the measure would not be legally sound

The Independent UK

Treasury to increase borrowing amid debt ceiling standoff

The Treasury Department has announced plans to increase its borrowing during the first three months of 2023

AFP

Top Republican to meet Biden on avoiding US debt default

Washington (AFP) - House speaker Kevin McCarthy said he would meet Wednesday with Joe Biden to discuss avoiding a US debt default, but warned the president must rethink his refusal to consider spending cuts in exchange for raising the borrowing limit.

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