Category: Treasury Department

U.S. National Debt Tops $33 Trillion for First Time

The fiscal milestone comes as Congress is facing a new spending fight with a government shutdown looming.
Wally Adeyemo, the Deputy Treasury Secretary, to Visit Nigeria

Wally Adeyemo, the highest-ranking member of the African diaspora in the Biden administration, emigrated from Nigeria to the United States as a child.
Yellow’s Promise to Repay Federal Debt Provokes Skepticism

The trucking company, which has filed for bankruptcy protection, owes more than $700 million to the Treasury Department.
Why Bonds Are Still Essential Investments

Stocks command most of the attention. But even after the latest U.S. debt downgrade, bonds are steady, essential investments, our columnist says.
Biden Orders Ban on U.S. Investments in China’s Sensitive High-Tech Industries

The new limits, aimed at preventing American help to Beijing as it modernizes its military, escalates a conflict pitting the world’s two largest economies against each other.
White House Hits Back on Fitch Credit Downgrade, Protecting Biden

The president’s team has mobilized to counter the downgrade of Treasury debt by the Fitch Ratings agency, rushing to defend the story of an improving economic outlook.
Markets Still Weigh the Meaning of a U.S. Credit Rating Cut

Stocks were down and Treasury yields were up after Fitch Ratings’ downgrade. But the biggest effects of the move may play out over time.
Debt Downgrade, Driven by Partisanship, Is Unlikely to Deter Borrowing

Fitch’s credit-rating decision stemmed from concerns about America’s ability to govern itself, along with the nation’s growing debt load.
U.S. Credit Rating Is Downgraded by Fitch

The ratings agency, which lowered the U.S. long-term rating from its top mark, said that debt-limit standoffs have eroded confidence in the nation’s fiscal management.
Janet Yellen Calls for Accelerating Debt Relief for Poor Nations

Helping the world’s low-income countries will be a central topic as U.S. Treasury Secretary Janet Yellen and other G20 finance ministers gather in India.
Treasury Taps Sanctions Architect to Lead Financial Crimes Team

Andrea Gacki has played a leading role in designing sanctions that the U.S. has imposed on Russia as punishment for its invasion of Ukraine.
Looming U.S. Investment Restrictions on China Threaten Diplomatic Outreach

Any such restrictions are expected to anger Beijing and will be the first test of the new channels of communication that the world’s two largest economies are trying to restore.