Tag Archives: Congress

U.S. Treasury Secretary Janet Yellen is working to avoid default after Congress failed to extend the suspension of the debt ceiling. Yellen told Congress that the department is taking extra steps to ensure this, expressing in a written letter to lawmakers that resolving the issue would be the better choice. …

The United States Senate voted on Wednesday on a large bipartisan infrastructure bill, at an estimated cost of around $550 billion in investments. A total of 67 Senators approved the bill, while 32 opposed, in the first procedural step to debate the proposed plan by President Joe Biden. Despite the …

The United States Senate could be voting on the bipartisan infrastructure bill next Wednesday, Senate said Majority leader Chuck Schumer said on Thursday. The $1.2 trillion plan includes spending on roads, bridges, and other infrastructure projects. “All parties involved in the bipartisan infrastructure bill talks must now finalize their agreement …

The United States Federal Reserve Chairman Jerome Powell assured lawmakers on Wednesday that the sharp rise in inflation this year will soon ease. In his testimony before the House of Representatives Financial Services Committee, Powell said that despite the rise in consumer prices, which he expects to remain elevated in …

U.S. President Joe Biden announced that a bipartisan deal has been reached on the infrastructure plan with a vote on the draft bill expected this summer. The five-year mega plan includes huge government spending and investments of about $1 trillion, with the aim of revitalizing the job market, and overhaul …

U.S. Federal Reserve Chairman Jerome Powell told lawmakers on Tuesday that the economy has notably improved amid recovery from the Coronavirus pandemic and that inflation will ease over time following the recent surge. Testifying for the second consecutive day before the House of Representatives Select Subcommittee on the Coronavirus Crisis, …

The US House of Representatives on Thursday voted to repeal the president’s 2002 authorization for the use of military force that authorized the war in Iraq. As voting continued, the number of votes in favor of cancellation reached 265, against 162. Almost all Democrats support repealing the mandate, while most …

Chairman of the United States Federal Reserve Jerome Powell spoke in an optimistic tone about the recovery of the U.S. economy from the impact of the Coronavirus pandemic, during his testimony before the Senate Banking Committee. Powell said that 2021 “is going to be a very, very strong year in …

U.S. Treasury Secretary Janet Yellen believes that American banks could be allowed to pay dividends and repurchase stock as they show recovery to a healthy position, she told the Senate Banking Committee in her testimony on Wednesday. According to Yellen, banks “should have some ability to, abiding by the rules, …

The United States government does not plan to prolong the maturity of its debt instruments, said the U.S. Treasury Secretary Janet Yellen. Last year, the average maturity of Treasury bonds declined as the Trump administration amid an increased dependence on short-term notes. “Treasury has been looking at this question and …