Yellen, Janet L
U.S. Will Hit Debt Limit Jan. 19, Yellen Tells Congress
WASHINGTON — Treasury Secretary Janet L. Yellen warned on Friday that she would have to begin employing “extraordinary measures” to continue paying the nation’s bills this month if lawmakers do not act to raise the statutory debt limit and that her powers to delay a default could be exhausted by early June. Ms. Yellen’s letter […]
Know More
Democrats Eye a Major Shift in How Corporations Are Taxed
WASHINGTON — At the center of the new climate and tax package that Democrats appear to be on the verge of passing is one of the most significant changes to America’s tax code in decades: a new corporate minimum tax that could reshape how the federal government collects revenue and alter how the nation’s most […]
Know More
Biden Administration’s Bid to Cap Russia Oil Prices Faces Resistance
WASHINGTON — The Biden administration’s push to form an international buyers’ cartel to cap the price of Russian oil is facing resistance amid private sector concerns that it cannot be reliably enforced, posing a challenge for the U.S.-led effort to drain President Vladimir V. Putin’s war chest and stabilize global energy prices. The price cap […]
Know More
How Joe Manchin Left a Global Tax Deal in Limbo
WASHINGTON — In June, months after reluctantly signing on to a global tax agreement brokered by the United States, Ireland’s finance minister met privately with Treasury Secretary Janet L. Yellen, seeking reassurances that the Biden administration would hold up its end of the deal. Ms. Yellen assured the minister, Paschal Donohoe, that the administration would […]
Know More
Biden Seeks Price Cap on Russian Oil Amid Fears of Gas Shock
WASHINGTON — Relief at the gas pump coupled with this past week’s news that businesses continue to hire at a blistering clip have tempered many economists’ fears that America is heading into a downturn. But while President Biden’s top aides are celebrating those economic developments, they are also worried the economy could be in for […]
Know More
Ukraine War’s Latest Victim? The Fight Against Climate Change.
BERLIN — Russia’s invasion of Ukraine seemed like an unexpected opportunity for environmentalists, who had struggled to focus the world’s attention on the kind of energy independence that renewable resources can offer. With the West trying to wean itself from Russian oil and gas, the argument for solar and wind power seemed stronger than ever. […]
Know More
Tether: The Coin That Could Wreck Crypto
Even by crypto’s often-surreal standards, Tether has a peculiar history. The company was founded in 2014 by Brock Pierce, a cryptocurrency evangelist who, as a child actor, starred in the “Mighty Ducks” movies. He and his partner, Reeve Collins, later handed control of the firm to a former plastic surgeon named Giancarlo Devasini, who has […]
Know More
Yellen Calls on Europe to Boost Ukraine Aid
BRUSSELS — Treasury Secretary Janet L. Yellen urged European nations on Tuesday to step up their spending to support Ukraine as Russia’s attacks on the country’s critical infrastructure showed few signs of abating. The United States and Europe have coordinated closely in enacting sweeping sanctions against Russia in the nearly three months since its president, […]
Know More
Yellen Looks to Get Global Tax Deal Back on Track During Europe Trip
Poland’s stance was sharply criticized by European officials, particularly France, whose finance minister, Bruno Le Maire, suggested that Warsaw was instead holding up a final accord in retaliation for a Europe-wide political dispute. Poland has threatened to veto measures requiring unanimous E.U. votes because of an earlier decision by Brussels to block pandemic recovery funds […]
Know More