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U.S. outgoing Federal Reserve Chair Janet Yellen holds a news conference after a two-day Federal Open Market Committee (FOMC) meeting in Washington, U.S. December 13, 2017. Photo by Jonathan Ernst/REUTERS

World May 24

U.S. to end Russia’s ability to pay off international debt

By Ken Sweet, Fatima Hussein, Associated Press

Economy Mar 16

Federal Reserve Chair Jerome Powell testifies during a Senate Banking, Housing and Urban Affairs Committee hearing at the Hart Senate Office Building in Washington, DC, U.S., September 28, 2021. Photo by Kevin Dietsch/Pool via REUTERS
WATCH: Federal Reserve chair Powell gives update on federal interest rate policy

The Federal Reserve launched a high-risk effort Wednesday to tame the worst inflation since the 1970s, raising its benchmark short-term interest rate and signaling potentially up to seven rate hikes this year.

By Christopher Rugaber, Associated Press

Economy Mar 09

U.S. President Biden departs for Detroit, Michigan, from the White House
Biden signs order for government oversight of cryptocurrency

The executive order had been widely anticipated by the finance industry and others who have compared the cryptocurrency market with the Wild West.

By Fatima Hussein, Associated Press

Economy Feb 25

FILE PHOTO: Signage is seen at the United States Department of the Treasury headquarters in Washington, D.C.
Treasury: Most COVID rental aid went to low-income residents

The U.S. Treasury Department has concluded that more than 80% of the billions of dollars in federal rental assistance during the pandemic went to low-income tenants.

By Michael Casey, Fatima Hussein, Associated Press

Politics Dec 22

People carrying packages distributed by a Turkish humanitarian aid group, leave a distribution centre in Kabul, Afghanistan, December 15, 2021. Photo by Ali Khara/REUTERS
U.S. Treasury Department creates pathway to send aid to Afghanistan

The licenses will enable the U.S. government, international organizations such as the United Nations and nongovernmental organizations to operate in the country and offer humanitarian assistance despite sanctions.

By Josh Boak, Associated Press

Nov 29

States, cities running out of rental assistance funds

By Michael Casey, Associated Press

The Treasury Department says several states and cities have exhausted their federal rental assistance in a sign that spending on a program aimed at averting evictions has picked up speed.

Continue reading

Oct 06

Congress foresees short-term debt fix amid perilous standoff

By Kevin Freking, Josh Boak, Associated Press

Democrats are signaling they are receptive to an offer from Republican leader Mitch McConnell that would allow for an emergency debt limit extension into December.

Continue reading

Sep 27

WATCH: Secretary Yellen, Chairman Powell testify on pandemic recovery

By Chris Rugaber, Associated Press

Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell are expected to testify at a hearing on Tuesday on the state of the nation's pandemic recovery.

Continue reading

Sep 17

U.S. threatens sanctions against Ethiopian officials in Tigray conflict

By Nomaan Merchant, Associated Press

Ten months of fighting have left hundreds of thousands of people there facing famine. A new executive order allows the Treasury Department to sanction leaders and groups seen as fueling the conflict.

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May 03

Treasury announces plans to borrow $463 billion this quarter

By Martin Crutsinger, Associated Press

The big increase of $368 billion was attributed to passage of a $1.9 trillion support measure that President Joe Biden pushed through Congress in March which provided another round of relief payments totaling $1,400 per individual.

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Tuesday, Aug 16

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