Janet Yellen

U.S. Government

Yellen urges Congress to do more to fight pandemic recession

Treasury Secretary nominee Janet Yellen is calling on Congress to do more to fight a deep pandemic-induced recession, saying the threats of a longer and even worse downturn are too great to cut back on support now. “Without further action, we risk a longer, more painful recession now — and long-term scarring of the economy

Business

EXPLAINER: Why the Dow topped 30,000 for the first time

Wall Street busted through its latest milestone Tuesday, when the Dow Jones Industrial Average topped 30,000 for the first time. The Dow rose 454.97 points, or 1.5%, to close at 30,046.24. Investors were encouraged by progress in the development of coronavirus vaccines and news that the transition of power to President-elect Joe Biden is finally

Financial

Awaiting Yellen at Treasury: Yet another daunting crisis

Janet Yellen is in line for another top economic policy job — just in time to confront yet another crisis. Yellen, President-elect Joe Biden’s apparent choice for treasury secretary, served on the Federal Reserve’s policymaking committee during the 2008-2009 financial crisis that nearly toppled the banking system. She became Fed chair in 2014 when the

National

Biden signals sharp shift from Trump with Cabinet picks

President-elect Joe Biden on Monday tapped Obama-era officials for top national security and economic roles, signaling a stark shift from the Trump administration’s “America First” policies that disparaged international alliances and favored deregulation and tax cuts. The picks include former Secretary of State John Kerry to take the lead on combating climate change. Biden is

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