US Treasury Secretary Janet Yellen faces the tough job of stabilizing fractious US-China relations that worsened this week after China retaliated in a tech war with the United States, CNN reported.
US Treasury Secretary Janet Yellen on Thursday expressed "concern" over China's newly unveiled export controls on two strategic raw materials critical to the global chipmaking industry.
Yellen said that the "close collaboration" between India and the US showcases how "advanced and emerging economies" can bridge political differences and make progress on shared policy objectives.
"I indicated in my last letter to Congress that we expect to be unable to pay all of our bills in early June and possibly as soon as June 1. And I will continue to update Congress, but I certainly haven't changed my assessment. So I think that that's a hard deadline," Yellen said on Sunday (
The comments from Yellen provided further evidence that Biden officials are starting to warm up to the idea of bank mergers despite concerns from progressives and the administration's own scrutiny of corporate concentration.
"With additional information now available, I am writing to note that we still estimate that Treasury will likely no longer be able to satisfy all of the government's obligations if Congress has not acted to raise or suspend the debt limit by early June, and potentially as early as June 1
Union Finance Minister Nirmala Sitharaman on Wednesday participated in the roundtable on 'Multilateral Development Bank Evolution: Building Shareholder Consensus' hosted by the US Department of Treasury Secretary at World Bank headquarters.
The discussion was focused on the impact of global development challenges like climate change, pandemics, fragility and conflict on development progress, and reforms at the World Bank, according to the Finance ministry.
Finance Minister Nirmala Sitharaman on Tuesday met with US Treasury Secretary Janet Yellen on the sidelines of the World Bank and IMF Spring Meetings 2023 in Washington.
The USD 30-billion infusion will give the struggling San Francisco lender much-needed cash to meet customer withdrawals and buttress confidence in the US banking system during a tumultuous moment for lenders, CNN Business said.
"Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer," read the statement.