Commentary The world’s superpower continues to send diplomats to genuflect before the throne in Beijing. Blinken’s China Trip Leading the parade of American supplicants to Chinese leader Xi Jinping was Secretary of State Antony Blinken. Despite Mr. Blinken’s claim of “progress” being made during his visit last month, most serious longtime China watchers have panned his visit,…

Treasury Secretary Janet Yellen met with China’s ambassador on Monday amid an intensifying chip war between the United States and China as Beijing imposed new restrictions on metal exports. China’s Ministry of Commerce said Monday that items related to gallium and germanium, which are crucial to making semiconductors, will be subject to export controls starting…

U.S. Treasury Secretary Janet Yellen is traveling to China this week for talks with senior Chinese officials, the Treasury Department said on Sunday. Yellen will be the second highest-ranking U.S. official to visit China in weeks as the United States attempts to improve ties with China’s ruling communist party. Yellen will travel to Beijing from…

Top Republicans negotating a debt ceiling solution with the White House discontinued talks, signifying at least a temporary breakdown in the reconciliation process. After a meeting with White House officials in the Capitol, Republicans said they were leaving because the two sides were still too far apart to continue the in-person debate. Republican lawmakers asserted that…

The Bipartisan Policy Center (BPC) reported that the U.S. government would likely default on its payment obligations sometime between early June and early August if changes aren’t made. The group’s May 2023 debt-limit analysis report, which was released on May 9, cited pressure from a decline in tax revenue as the support for their conclusion…

U.S. Treasury Secretary Janet Yellen says Congress must increase the nation’s debt ceiling to avoid financial disaster. “America has paid its bills on time since 1789. And not to do so would produce an economic and financial catastrophe,” Yellen said Feb. 6 on ABC’s “Good Morning America.” “And every responsible member of Congress must agree…

Former U.S. Treasury officials have said there is no way to prioritize which bills would get paid first in the event that the United States reached its statutory debt ceiling. Rep. David Schweikert (R-Ariz.) asked U.S. Treasury Secretary Janet Yellen whether the Treasury now has the capability to prioritize bill payments if the government can…

U.S. Secretary of the Treasury Janet Yellen admitted to being concerned about liquidity in the Treasury debt market during an event in Washington on Oct. 12. The potential loss of liquidity is a worrying situation, Yellen said in a question-and-answer session following a speech at the event, according to Bloomberg. She pointed out that even…

Sen. Chuck Grassley (R-Iowa) wants to know why, more than a year later, the Department of Treasury, Department of Justice (DOJ), and IRS have yet to explain to America who leaked highly confidential tax return data on hundreds of Americans to a news outlet. “More than a year ago, the news website ProPublica began publishing…