Yellen

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Treasury Secretary Yellen Refutes Economist Nouriel Roubini’s Allegations of Financial Manipulation

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U.S. Treasury Secretary Janet Yellen has denied claims by economist Nouriel Roubini and former Trump administration official Stephen Miran that the Treasury manipulated the issuance of securities to lower real borrowing costs. Yellen assured in a Bloomberg interview that no such strategy had ever been discussed or implemented. Roubini and Miran’s paper argued that Treasury … Read more

‘Fiat Is Fragile’ — Silicon Valley Bank’s Collapse Sparks Finger-Pointing and Concerns of Contagion

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Silicon Valley Bank (SVB) has become the center of attention after its collapse prompted the U.S. Federal Deposit Insurance Corporation (FDIC) to shut the bank down on Friday. It was the largest U.S. bank failure since 2008, and various alleged catalysts have been pointed to. Some believe venture capitalists caused a bank run, while others … Read more

Treasury Secretary Yellen Urges Swift Action to Increase Spending Limit, Avert Default on US Obligations

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Janet Yellen, the U.S. secretary of the Treasury, sent a letter to Congress on Friday urging lawmakers to increase the spending limit. Yellen stressed that the country would reach its statutory debt limit on Jan. 19, 2023. She warned that “failure to meet the government’s obligations would cause irreparable harm to the U.S. economy, the … Read more

Indicted FTX Co-Founder Sam Bankman-Fried Discussed ‘Pandemic Prevention’ With Biden Administration Officials

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According to public filings, former crypto billionaire and FTX co-founder Sam Bankman-Fried met with senior Biden administration officials before he was indicted for financial fraud. When asked about the visits, White House press secretary Karine Jean-Pierre told the press the meetings involved discussions about “pandemic prevention.” Senior White House Staff Met With Former Billionaire Sam … Read more

Yellen Downplays Stimulus Contributing to Inflation, Republicans Grill US Treasury Secretary’s Decisions

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U.S. Treasury secretary Janet Yellen doesn’t think inflationary pressures stem from the stimulus policies enacted after the Covid-19 outbreak. While speaking to lawmakers on Wednesday, during the House Ways and Means Committee, Republicans criticized Yellen for not knowing about the risks of inflation. A U.S. senator from Wyoming questioned the Treasury secretary’s “pronouncements and decisions” … Read more