WASHINGTON—The U.S. Treasury said it can now meet the federal government’s payment obligations after a debt ceiling suspension, following earlier warnings that it would run short of funds on Monday if Congress failed to act. “Now that Congress has acted to suspend the debt limit, Treasury has the tools needed to ensure that the U.S….
US Treasury Can Meet All Obligations After Debt Ceiling Suspension
June 5, 2023
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Business & Marketsdebt ceilingeconomyMarketsnational debtnational debt defaultPolicies & ImpactsPoliticsU.S. TreasuryUS
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The Costs and Consequences of the SVB Bailout
March 20, 2023
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Business & MarketsBusiness ColumnistsdepositorseconomyMarketsOpinionregulatorsSVBU.S. TreasuryUSUS NewsViewpoints
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Commentary Banking regulators, along with the board of directors and management of Silicon Valley Bank (SVB), each failed to see or prevent the problems that destroyed in less than a week one of the largest banks in the country. The regulators, whose mandate is explicitly designed to prevent such a disaster, allowed SVB to grow…
China’s Exports to US Decline for 7 Straight Months
March 16, 2023
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ChinaChina Business & Economychinese exportsdebt securitiesfreight ratesU.S. TreasuryU.S.-China relationsUS-China relations
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China’s exports to the United States have declined for seven consecutive months. Analyses show that this trend may continue as U.S.–China relations further deteriorate. Data released by China’s General Administration of Customs on March 7 showed the total trade value between the United States and China in the first two months of this year was…
Fed Will Only Issue CBDC With Support from White House, Congress: Treasury Official
March 1, 2023
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Business & Marketsdigital currencyeconomic policieseconomyNational SecurityPolicies & ImpactsU.S. TreasuryUSWorld
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The Federal Reserve will only issue a central bank digital currency (CBDC) with the support of the White House and Congress, says Nellie Liang, Under Secretary of Treasury for Domestic Finance. Liang joined a discussion at the Atlantic Council’s GeoEconomics Center about the future of money and payments, including cryptocurrency, stablecoins, and CBDCs. It has been…
Fed Will Only Issue Digital Currency With Support From White House, Congress: Treasury Official
March 1, 2023
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Business & Marketsdigital currencyeconomic policieseconomyNational SecurityPolicies & ImpactsU.S. TreasuryUSWorld
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The Federal Reserve will only issue a central bank digital currency (CBDC) with the support of the White House and Congress, says Nellie Liang, Under Secretary of Treasury for Domestic Finance. Liang joined a discussion at the Atlantic Council’s GeoEconomics Center about the future of money and payments, including cryptocurrency, stablecoins, and CBDCs. It has been…
US Sanctions Logistics Allies of Mexico’s Sinaloa Cartel
MEXICO CITY—The U.S. Treasury Department on Wednesday sanctioned individuals linked to Mexico’s powerful Sinaloa drug cartel, days after bilateral security talks aimed at cracking down on trafficking of fentanyl and other contraband. The Treasury said Juan Francisco Valenzuela and his family-run drug organization are accused of transporting “multi-ton quantities of illicit drugs” into the United…
The Real ‘Inflation’ Effect
August 25, 2022
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Business & MarketsBusiness ColumnistseconomyFederal ReserveinflationMarketsOpinionrecessionU.S. TreasuryViewpoints
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Commentary If you’re the CEO of the world’s largest retailer, you’re not off to a great start if you are highlighting sales of men’s flannel. Yet, such was the case for Walmart’s chief executive, Doug McMillan. Consumers are behaving differently than they had last year, even when compared to earlier this year, and this poses…
Treasury Approves $940 Million in Small Business Capital Funds for 9 States
July 24, 2022
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Business & Marketseconomic policiesExecutive BranchPoliticsSmall Business Capital FundsU.S. TreasuryUS
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WASHINGTON—The Treasury Department said it approved nine state plans for the State Small Business Credit Initiative worth $940 million, bringing total approvals under the COVID-19 recovery venture capital program to $1.5 billion. The $10 billion SSBCI program aims to address a shortage of capital for new business startups and other small business development, particularly in…
US Treasury to Pay Down $26 Billion in Debt in Q2
NEW YORK—The U.S. Treasury said on Monday it expects to pay down $26 billion in debt the second quarter, down from a January borrowing estimate of $66 billion, primarily because of an increase in receipts. The second-quarter estimate assumes an end-of-June cash balance of $800 billion. The Treasury has been paring back debt auction sizes…
Rates Are Rising: Where Do You Park Your Cash?
Commentary Russian invasions, skyrocketing inflation, Fed rate hikes, new COVID variants, you name it—financial markets are coming under siege by an army of factors that threaten everyone’s wealth. It’s a confusing time for investors. You hear one thing from the talking heads on CNBC and something completely different from the ones on Fox Business. Is…
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