Tag Archives: Congress

Concerns that the federal government could hit its debt ceiling spiked after Treasury Secretary Janet Yellen sent a letter to party leaders in Congress urging them to raise the debt limit before the expected deadline on Thursday.Congress can prevent economic disaster by increasing or suspending the limit, as they have …

The US Senate voted, on Thursday, to approve a $1.7 trillion government funding bill and the related legislation is getting passed onto the House, ahead of the Friday night deadline in order to prevent partial federal government shutdown. The bill is meant to fund critical government operations and to provide …

There was no obvious catalyst that specifically brought about the US Dollar’s decline, although the positive performance of US shares and easing government bond yields put pressure on the dollar after Wall Street’s opening. The yield on the 2-year Treasury note touched an intraday low of 4.65% after peaking at …

Stocks rose Tuesday as investors awaited the results of the US midterm elections, which could impact future levels of government spending and regulation.The Dow Jones Industrial Average gained 522 points, or 1.6%, on track for its third straight up day. The S&P 500 rose 1.2%. The Nasdaq Composite was 1.5% …

For the second day, FOMC Chair Jerome Powell is testifying before the House Financial Services Committee on “Monetary Policy and the State of the Economy”. The US Dollar Index edged higher after these comments and was last seen rising 0.2% on the day at 104.38.Key Remarks“Our tools affect inflation, not …

US Fed Chair Jerome Powell will testify before Congress. Powell’s awaited remarks will be out ahead of the event. Market players will be looking for hints on future quantitative tightening. Economic DataThe UK will release updates on inflation data on Wednesday.Other DevelopmentsCentral bankers keep hinting at aggressive measures. Bank of …

Speaking at a New York event, US Treasury Sec. Janet Yellen explained that she does not think the US is going to have a recession. Earlier, this week, Sec Janet Yellen told Congress that the US is facing “unacceptable levels of inflation” on Tuesday as the treasury secretary defended herself …

The United States faces “unacceptable levels of inflation” and an appropriate budgetary stance is needed to help dampen inflationary pressures without undermining the economy, Treasury Sec. Janet Yellen told senators on Tuesday.At a Senate Finance Committee hearing, Yellen pushed back against Republican assertions that the highest inflation in 40 years …

The US Treasury secretary’s latest remarks about surging prices put the Biden administration in a defensive stance. At her previous hearing in 2021, Treasury Sec. Janet Yellen told the congress that it was time to “act big” on a pandemic relief package, in her attempt to downplay the then prevalent …

US President Joe Biden announces his Budget for Fiscal Year 2023. This is expected to reduce deficits by more than $1 Trillion over the next decade, advance safety and security at home and around the world, and make the investments needed to build a better America.The Biden administration on Monday …