The Treasury secretary, who considered ways to contain the fallout of a default when she was a Fed official in 2011, had urged Democrats to raise the limit while they still had control of Congress.
Category: United States Economy
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Has ‘Gig Work’ Become a Dirty Word?
If work for companies like Uber and Lyft once carried some appeal for offering flexibility, the kind of labor it has come to represent is now used by some as shorthand for a raw deal.
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Time Is Running Out for Congress to Raise the Debt Ceiling
With a June 5 deadline looming, there is much to be done to prevent the default that leaders of both parties said would never happen.
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$49.5 Billion in U.S. Treasury? For These Billionaires, That’s Nothing
The cash balance at the Treasury Department is now lower than the net worth of some of the world’s richest people.
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Consumer Spending Rose More Than Expected in April
New data on spending and income suggest that the economy remains robust despite the Federal Reserve’s interest rate increases.
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Fed Officials Were Split Over June Rate Pause, Minutes Show
In the Federal Reserve’s last meeting, “several” participants thought rates may have moved high enough to get inflation under control.
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Yellen Warns of Missed Payments if Debt Limit Is Not Lifted
The Treasury secretary said the Biden administration would face “very tough choices” if Congress did not act.
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More Americans Say Finances Are Tighter Because of Inflation
A new Federal Reserve survey finds that the strong job market hasn’t been enough to offset the rising cost of living for many families.