Treasury Department

Treasury Secretary Janet Yellen on Monday reiterated her warning in a letter addressed to House Speaker Kevin McCarthy stating that if Congress fails to raise the debt limit, it would cause severe hardships to American families. Yellen stated if the debt crisis isn't resolved it would "harm our...

U.S. Treasury Secretary Janet Yellen warned Monday afternoon that the government’s debt-limit measures may be exhausted by June 1, meaning the government would be out of funds to keep services such as Social Security running. Yellen called on Congress to raise the debt limit, to ensure...

Analysts at banks have reportedly said the U.S. government’s deadline to raise the $31.4 trillion debt ceiling could come sooner than expected, increasing the possibility of a short-term debt limit extension. What Happened: Goldman Sachs analysts stated weak tax collections so far in April...

Depositors of Silicon Valley Bank (NASDAQ: SIVB) will have access to all their money starting Monday, according to regulators. The Federal Reserve Board, Federal Deposit Insurance Corporation (FDIC), and Treasury Department in a joint statement said that the FDIC will complete its...

As the U.S. approached its debt ceiling, the self-imposed limit of the amount of money the country can borrow, Congress remained unable to come to a compromise to keep the government wheels turning. A proposed solution reemerged throughout different economic and political circles:...

The Treasury Department will go to extraordinary lengths Thursday to make sure the U.S. government can continue to foot its bills — and investors appear concerned. What To Know: Congress set the debt limit at approximately $31.4 trillion in 2021 and the government is getting...

U.S. Senators Roger Marshall (R-Kan.) and Elizabeth Warren (D-Mass.) introduced legislation to impose stricter anti-money laundering regulations on digital assets. What Happened: According to a joint statement from the senators, the bill would extend know-your-customer (KYC)...

The Trump administration's proposed fiscal year 2021 budget requires an additional $160 million to hire additional Customs and Border Protection (CBP) officers and other specialists to sufficiently staff the nation's 328 ports of entry, according to National Treasury Employees Union (NTEU). The...

The Treasury Department's Office of Foreign Assets Control (OFAC) on Wednesday announced that a Geneva, Switzerland-based airlines systems company will pay a $7,829,640 fine for violating U.S. sanctions. Between April 2013 and February 2018, Société Internationale de Télécommunications...

The United States will no longer consider China a currency manipulator, according to media reports. The move helps pave the way for a trade deal the countries are expected to sign in the coming days. Bloomberg said Monday that Trump administration sources said the Treasury Department will lift the...

To most Americans, a $21-trillion national debt and a $779-billion federal deficit may seem like they have no impact on day-to-day life. The more debt the U.S. racks up, the higher the chance that it could impact everyday Americans. The Numbers The latest U.S. budget deficit numbers are...

President Donald Trump seemed to waver last week on a couple of key official economic positions. Nonetheless, he maintained optimism that any remaining campaign promises will materialize. One by one we are keeping our promises - on the border, on energy, on jobs, on regulations. Big changes are...

According to Reuters, President Barack Obama's administration plans to prevent American companies from shifting their headquarters overseas to avoid U.S. taxes. The Treasury Department proposed a regulation aimed to combat "earning stripping," which is implemented through tax-avoiding mergers known...