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US debt measures likely to be exhausted by October Janet Yellen Secretary Janet Yellen is telling Congress that the Treasury Department will likely exhaust all of its "extraordinary measures" to avoid an unprecedented default on the government's obligations by Oct. America puts new controls on Israeli spyware companies Based on leaked targeting data, findings by a global media consortium earlier this year provided evidence that the spyware from NSO Group was allegedly used to infiltrate devices belonging to a range of targets, including journalists, activists and political opponents in 50 countries.
Treasury report calls for stricter oversight of stablecoins The largest stablecoin issuer, Tether, has been fined by both New York state authorities and the CFTC for misleading investors by claiming that all its tokens were backed by dollars and other fiat currencies, when they were not. All News Videos Photos. Yellen: October 18 is point-of-no-return to deal with US debt In a Tuesday letter, she said economists were able to issue a specific date based on the amount of revenue the US had received in September from corporate and private quarterly tax payments.
Thomas Jefferson. Andrew Jackson. Zachary Taylor. James Buchanan. Andrew Johnson. James A. Benjamin Harrison. Dwight D. John F. Read more about the administrative state on Ballotpedia. Executive Branch portal U. Department of Defense U.
Department of Homeland Security U. Department of Justice U. Department of Commerce U. Department of Labor U. Department of Energy U. Department of Agriculture. Department of State U. Department of Education U. Department of Transportation U. Popular Courses. What Is the Treasury Secretary? Key Takeaways Treasury Secretaries serve as head of the U. The position was created in and was first held by Alexander Hamilton under President George Washington.
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Related Terms What Is the U. Created in , the U. Treasury is the government Cabinet department responsible for issuing all Treasury bonds, notes, and bills. She was the first woman to head the American Federal Reserve. Including her time as chief White House economist, this puts her in a category of her own. Not only will she be the first woman to hold all three of the top US economic policy jobs, she will be the first person ever to have had all three jobs.
Though year-old Yellen has continually broken the glass ceiling, when President-elect Joe Biden introduced his economic team at the beginning of December, his choice was not much of a surprise. Yellen is a well-known face around Washington and a respected economist with a long public service career. While introducing her at the press gathering, Biden called her "one of the most important economic thinkers of our time," adding "no one is better prepared to deal with these crises.
With a Ph. In she started work on the Federal Reserve Board of Governors. Then she moved on to become the vice chair of the Federal Reserve, then chair in It was a position she held until when Donald Trump refused to renominate her as head of the central bank. Her years at the Fed were a time consumed with the aftermath of the global economic downturn.
The central bank was able to turn the crisis around and eventually drove the longest economic expansion in US history. Unemployment was at a year low before the coronavirus pandemic stopped progress in its tracks. This is according to reporting by the New York Times and based on disclosure statements. Among those who paid her were big corporations and Wall Street banks, which brings up fairness and the influence of special interests.
At the December press conference announcing her nomination, Yellen said she became an economist because she was "concerned about the toll of unemployment on people, families and communities.
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