Treasury Secretary Janet L. Yellen hails significant strides in IRS modernization and inflation reduction under the Inflation Reduction Act, while voicing disagreement with Fitch's recent U.S. credit rating downgrade.
In a significant address on August 3, 2023, Eric Van Nostrand, Acting Assistant Secretary for Economic Policy, hailed the success of the price cap policy in countering Russia's aggression in Ukraine and promoting global economic stability.
Texas' service sector witnessed accelerated growth in July, reflected by a nine-point rise in the revenue index, marking a 16-month peak. Employment remained steady, while business outlooks displayed a mix of sentiments.
In a recent address, Federal Reserve Bank of Richmond President Tom Barkin offered insights into the possibility of a recession, highlighting resilience in the face of inflation and economic challenges.
The Federal Reserve recently unveiled the FedNow® Service, an instant payment system that offers customers and businesses immediate money transfers anytime and on any day.
A group of U.S. lawmakers, led by French Hill (AR-02), introduced the Financial Innovation and Technology for the 21st Century Act (H.R. 4763). The bill aims to establish a specialized market structure framework for digital assets, fostering innovation while ensuring regulatory clarity.
The House Financial Services Subcommittee on Financial Institutions and Monetary Policy on July 20 conducted the hearing "Climate-Risk: Are Financial Regulators Politically Independent?" Republican legislators introduced four bills intended to limit federal regulators' ability to connect climate change to financial security.
The U.S. Treasury Department's Financial Literacy and Education Commission (FLEC) held a public meeting July 20 which focused on the financial literacy and educational needs of Tribal and Native communities.
During a recent address, Adeyemo highlighted the transformative potential of State and Local Fiscal Recovery Funds (SLFRF) for workforce development. He emphasized the urgency of utilizing the funds and the nearing deadline.
Dr. Ibai Basabe, the founder of 2ØY, an "organization working to unite crypto," described the cryptocurrency exchange OKX as a Chinese government-owned entity. Feng Bo, a major investor in OKX, has ties to Chinese Communist Party (CCP) elites.
Consultation regarding the Elective Payment of Applicable Credits under the Inflation Reduction held on July 17 was reportedly met with excitement. The consultation addressed proposed regulations published by Treasury and the IRS.
Last week, the Department of the Treasury's OFAC issued a press release to announce the decision to impose sanctions on three Belgian and one Mexican nationals.
Last week, the U.S. Department of the Treasury's Office of Foreign Assets Control issued a press release announcing the decision to impose more sanctions on Russia for Ukraine aggression, aligned with G7 commitments.
The U.S. Department of the Treasury has appointed a new director to head its Financial Crimes Enforcement Network (FinCEN). Andrea Gacki was named to the position July 13 by Treasury Sec. Janet Yellen.
Vice Chair for Supervision of the Federal Reserve Michael S. Barr spoke at the "Fair Housing at 55" National Conference on July 18 in Washington D.C., and in his keynote speech he underscored the importance of the Fair Housing Act. Barr advocated for continuous progress toward a fair and equal society through Federal Reserve actions.
Last week, U.S. Secretary of Treasury Janet L. Yellen held a press conference to address some key priorities at the G20, including the need to alleviate debt distress.