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The Latest Breaking News from Janet Yellen

G20 tussles over Ukraine war as West steps up sanctions

Finance leaders of the world's top economies sought on Friday to bridge differences over how to deal with Russia following its invasion of Ukraine a year ago, as the West stepped up sanctions against Moscow.

Reuters

G20 finance leaders to gauge toll on global economy on Ukraine war's anniversary

Global finance leaders will tally the economic damage from Russia's war in Ukraine on Friday as they meet on the conflict's first anniversary with some voicing concerns that more sanctions on Moscow would disrupt a modest improvement in growth.

Reuters

Yellen, G7 urge more aid for Ukraine and adherence to Russia sanctions

Finance ministers from the United States and its G7 allies called for more financial support for Ukraine on Thursday and vowed to maintain tough sanctions on Russia on the eve of the first anniversary of Moscow's invasion.

Reuters

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Yellen, in India for G20, urges faster fixes for debt crises

U.S. Treasury Secretary Janet Yellen has urged other leading economies to move faster in resolving debt crises that threaten a growing number of countries

The Independent UK

New estimate U.S. could face default on debt by early June

A new estimate finds the U.S. could face an unprecedented default on its obligations as soon as early June if Congress does not act to lift the debt limit

The Independent UK

G-20 finance chiefs to tackle global economic threats

Top financial leaders from the Group of 20 leading economies are gathering in the south Indian technology hub of Bengaluru to tackle challenges to global growth and stability

The Independent UK

U.S. to push debt relief, Ukraine aid at G20 finance meeting in India

U.S. Treasury Secretary Janet Yellen will travel to India next week for G20 finance meetings that will focus on unblocking distressed-country debt restructuring, boosting support for Ukraine and reforming multilateral development banks.

Reuters

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Janet Yellen to visit India for G-20 finance meetings

Treasury Secretary Janet Yellen will travel to India next week to attend Group of 20 finance minister meetings in Bengaluru and will address the global economic impacts of Russia’s invasion of Ukraine

The Independent UK

Climate advocates urge World Bank overhaul as leader exits

Leading climate figures are urging the Biden administration to use the early departure of the Trump-appointed head of the World Bank as an opening to overhaul the powerful financial institution

The Independent UK

Rockefeller Foundation boss favourite to succeed David Malpass at World Bank

Calls for White House to lose stranglehold on choosing bank’s leadership

The Guardian - UK

Biden set to pounce on much-wanted surprise at World Bank

Biden likely to move quickly in picking new World Bank leader.

Axios

World Bank head criticised over climate stance to step down early

David Malpass led lender through crises including the war in Ukraine but faced criticism over stance on climate change.

Al Jazeera

Trump pick Malpass stepping down as head of the World Bank

David Malpass is stepping down as president of the World Bank, four years after former President Donald Trump picked him to run the 189-nation agency

The Independent UK

The U.S. could run out of cash to pay its bills between July and September

If Congress fails to raise the nation's $31.4 trillion debt ceiling, the U.S. government could run out of cash between July and September, or even sooner, the Congressional Budget Office said.

WEKU

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The Independent UK

Yellen warns of 'catastrophe' if debt limit not raised

Treasury Secretary Janet Yellen is warning that the U.S. faces “economic catastrophe” if Congress and the White House don’t take action to raise the federal debt limit

Axios

Biden picks Fed's Lael Brainard for National Economic Council

He'll also have to nominate her replacement as Fed vice-chair.

Bangkok Post

After balloon saga, can China and US re-engage?

When US Secretary of State Antony Blinken this month called off his trip to Beijing, he chose his words carefully. China's launch of a spy balloon on a high-altitude journey over the United States was unacceptable and irresponsible, he said, but he was postponing -- not cancelling -- his visit.

Bangkok Post

After spy balloon incident, can China and the US talk again?

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Reuters

Analysis-After spy balloon incident, can China and the U.S. talk again?

When U.S. Secretary of State Antony Blinken this month called off his trip to Beijing, he chose his words carefully. China's launch of a spy balloon on a high-altitude journey over the United States was unacceptable and irresponsible, he said, but he was postponing - not canceling - his visit.

Reuters

Yellen wants bolder World Bank steps on climate change, global issues

U.S. Treasury Secretary Janet Yellen urged the World Bank to map out "bolder and more imaginative" steps on Thursday to address global challenges such as climate change even as it continues to aid individual developing countries.

Radio France Internationale

French, German ministers in Washington to defend EU economies

The French and German economy ministers, Bruno Le Maire and Robert Habeck, kick off high-stakes talks with US officials Tuesday to underscore European concerns over President Joe Biden's ambitious climate action plan.

Fortune

‘Hope is not a strategy’: BofA CEO warns corporate America must prepare for the worst around debt ceiling

Bank of America CEO, Brian Moynihan, said now is not the time to start tweaking the 250-year-old Constitution.

Fortune

The Treasury secretary says the red-hot labor market means the U.S. can avoid a recession: ‘You don’t have a recession when you have 500,000 jobs and the lowest unemployment rate in more than 50 years’

“The country has been through a lot…But really we have a strong and resilient economy,” Yellen told ABC. “And inflation is coming down.”

Fortune

IMF: U.S. economy might yet manage to pull off a soft landing and avoid recession

Treasury Secretary Janet Yellen also downplayed the risk of the U.S. economy contracting: “You don’t have a recession when you have 500,000 jobs and the lowest unemployment rate in more than 50 years.”

The Independent UK

Biden, McCarthy to meet, discuss debt ceiling at White House

President Joe Biden and House Speaker Kevin McCarthy are preparing for their first meeting since the GOP leader took power

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