u.s. treasury department

Analysis: What is the debt ceiling?

By Steven Pressman, The Conversation

Treasury Secretary Yellen announced the U.S. will hit its $31 trillion debt ceiling on Jan. 19. Economists and markets are worried Congress won’t act in time, which could trigger a financial crisis.

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

By Ken Sweet, Fatima Hussein, Associated Press

The U.S. will close the last avenue for Russia to pay back its billions in debt to international investors on Wednesday, making a Russian default on its debts for the first time since the Bolshevik Revolution all but inevitable.

WATCH: Federal Reserve chair Powell gives update on federal interest rate policy

By Christopher Rugaber, Associated Press

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.

Biden signs order for government oversight of cryptocurrency

By Fatima Hussein, Associated Press

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

Treasury: Most COVID rental aid went to low-income residents

By Michael Casey, Fatima Hussein, Associated Press

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.

U.S. Treasury Department creates pathway to send aid to Afghanistan

By Josh Boak, Associated Press

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.

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.

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.

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.

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.