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News Articles: Treasury secretary

US investor and hedge fund manager Scott Bessent testifies before a Senate Finance Committee hearing on his nomination to be Secretary of the Treasury on January 16, 2025.

Tagged as: 

  • Economy

Trump's pick for Treasury Secretary is Scott Bessent. Here's what to know

Trump's promised tax cuts, and their potential consequences for the U.S. economy, took center stage at Bessent's confirmation hearing.

January 16, 2025
|
By:
  • Maria Aspan
Howard Lutnick, Chairman and CEO of Cantor Fitzgerald, speaks at a rally for president-elect Donald Trump at Madison Square Garden in New York on Oct. 27, 2024.

Tagged as: 

  • Politics

Trump picks Wall Street investor Howard Lutnick as Commerce Secretary

President-elect Trump picked Lutnick, the CEO of investment bank Cantor Fitzgerald, to be his next Commerce Secretary.

November 19, 2024
|
By:
  • Maria Aspan and
  • Scott Horsley
A U.S. debt default would lead to a slump in stock and bond markets, while eroding the U.S.' financial standing in the world, analysts say.

Tagged as: 

  • Business

Here's what could happen in markets if the U.S. defaults. Hint: It won't be pretty

Investors are still hopeful that lawmakers will clinch a deal to raise or suspend the debt ceiling. That's because failure to do so could have devastating consequences in markets.

May 22, 2023
|
By:
  • David Gura
The U.S. Capitol Building is seen on Jan. 19, 2023, in Washington, D.C. Treasury Secretary Janet Yellen said the U.S. reached its debt limit on Thursday and is resorting to extraordinary measures to avoid defaulting on its debt.

Tagged as: 

  • Economy

U.S. hits its debt limit and now risks defaulting on its bills

The U.S. is undertaking "extraordinary" measures to avoid defaulting on its obligations after the country reached its debt limit on Thursday. Now, a big political fight looms.

January 19, 2023
|
By:
  • Rafael Nam
Janet Yellen addresses an event last month introducing the incoming Biden administration's economic team in Wilmington, Del. Yellen is the first woman to lead the Treasury Department.

Tagged as: 

  • Economy

Janet Yellen Confirmed By Senate, Making History As First Female Treasury Secretary

Janet Yellen was confirmed by the Senate to serve as Treasury secretary. She'll be the first woman to hold that post and will lead the Biden administration's efforts to address the pandemic recession.

January 25, 2021
|
By:
  • Scott Horsley
Then-Federal Reserve Board Chair Janet Yellen speaks during a briefing in 2017. President-elect Joe Biden reportedly will nominate Yellen as his Treasury secretary.

Tagged as: 

  • Economy

Biden Picks Janet Yellen To Be Treasury Secretary In Historic Appointment

Joe Biden plans to nominate the former Federal Reserve chair as his Treasury secretary. She would play a leading role in helping the economy recover from the pandemic.

November 24, 2020
|
By:
  • Scott Horsley and
  • Franco Ordoñez

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