The Latest Breaking News from Janet Yellen

US Treasury Secretary Janet Yellen has urged lawmakers to find common ground and raise the country's borrowing limit. Speaking to ABC News, she also warned that the idea of invoking the 14th amendment to raise the debt ceiling could lead to a "constitutional crisis". Also, the Financial Times reports that…

The Treasury secretary paints a dire picture of what might happen if the borrowing limit is not increased before the department runs out of what it calls ‘extraordinary measures’ to operate under the current cap.

Deadlines only work if all the parties actually believe that they are real.

He replaces Malpass, who was criticised for his stance on climate change and will step down nearly a year early.

U.S. Treasury Secretary Janet Yellen will travel to Niigata, Japan next week to participate in the Group of Seven (G7) finance ministers and central bank governors meeting, the Treasury Department said on Wednesday.

Top Biden officials are privately debating a controversial escape hatch.

Facing the risk of a government default as soon as June 1, President Joe Biden has invited the top four congressional leaders to a White House meeting for talks next week

White House press secretary Karine Jean-Pierre held a news briefingon Tuesday (2 May) as the deadline to raise the federal government’s $31.4 trillion debt ceiling looms.

Lawmakers have been given notice of a new deadline if they are to avoid a damaging default on U.S. debt: June 1, 2023.