“I think the reality of turning a political commitment into binding domestic legislation is a lot more complex,” said Manal Corwin, a Treasury official in the Obama administration who now […]
Treasury Department
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Back to news homeHow Do Higher Interest Rates Bring Down Inflation?
This kind of communication was less common 30 years ago. But a series of Fed chairs — Alan Greenspan, Ben S. Bernanke and Janet L. Yellen — expanded the practice. […]
Fed Raises Interest Rate Half a Percentage Point, Largest Increase Since 2000
Deciding how quickly to remove policy support is a fraught exercise. Central bankers are hoping to move decisively enough to arrest the pop in prices without curbing growth so aggressively […]
S&P Global Places Russia in ‘Selective Default’
S&P Global has placed Russia under a “selective default” rating after the Russian government said last week that it had repaid about $650 million in dollar-denominated debt in rubles.The ratings […]
Treasury Aims for Economic Pain on Russia, but Critics Question Effectiveness
WASHINGTON — When Russia imposed retaliatory sanctions on top American officials last month, its government targeted President Biden and his top national security advisers, along with Wally Adeyemo, the deputy […]
What a Federal Reserve Rate Increase Means for You
Though the typical car payment has reached its highest levels since 2012, any Fed increase isn’t expected to make a meaningful difference — at least not yet.“Car loan rates will […]
Employer Practices Limit Workers’ Choices and Wages, U.S. Study Argues
Lack of competition, the Biden administration argues, goes a long way to explain why pay for a large share of the American work force is barely higher, after accounting for […]
Russia Could Use Cryptocurrency to Mitigate U.S. Sanctions
When the United States barred Americans from doing business with Russian banks, oil and gas developers and other companies in 2014, after the country’s invasion of Crimea, the hit to […]
Inflation and Deficits Don’t Dim the Appeal of U.S. Bonds
Mr. Bernstein stipulated that while debt financing has its place, the White House also believes it has firm limits within its agenda. “The outcome of all this is going to […]
Racial Turmoil Mars Signs of Progress at the U.S. Mint
WASHINGTON — The United States Mint celebrated a milestone this month when it announced the first shipment of a new batch of quarters bearing the image of the writer and […]