Janet Yellen News

By Andrea Shalal and David Lawder

James Comer, chair of the United States House of Representatives Oversight and Accountability Committee, has threatened Securities and Exchange Commission (SEC) chair Gary Gensler with a subpoena. He wrote in the letter dated Oct. 12, that the committee will have “no choice” but to use compulsory measures to obtain documents if the SEC does not start cooperating with it.

Sitharaman held discussions with US Treasury Secretary Janet Yellen on the policy priorities of the International Monetary Fund and how the institution should support its membership. The two met on the sidelines of the ongoing IMF-World Bank Annual meetings in Marrakech, Morocco, the Union Ministry of Finance informed. In her intervention, Sitharaman spoke about IMF's mandate and lending policies, a strong, quota-based, and adequately resourced IMF, Poverty Reduction and Growth Trust (PRGT) Financing and IMF Governance reforms. In her address, she also highlighted the role of IMF in addressing debt restructuring process bottlenecks and fostering cooperation on debt issues, including through co-chairing the Global Sovereign Debt Roundtable (GSDR) with India and the World Bank, according to the Finance Ministry. The roundtable discussion was hosted by US Treasury Secretary Yellen. A high-level seminar on «Strengthening the Financial Capacity of MDBs» was also organised by the G20 India Presidency. Sitharaman drew attention to India's G20 Presidency's focus on the importance of multilateralism to move towards coordinated and consensus-based solutions to global challenges and also highlighted that in line with the evolving needs of the membership, the IMF's primary focus needs to be macroeconomic surveillance and policy guidance. The participants during the seminar deliberated on various options to enhance multi-lateral development banks (MDBs) financing and how these options can be implemented most effectively across the MDBs. The Union Finance Minister also underscored the importance of the IMF to remain well-capitalised through quota-based resources to remain central to the global financial safety net. Expressing

Seven members of the United States Senate have called on the Treasury Department and Internal Revenue Service (IRS) to advance a rule imposing certain tax reporting requirements for crypto brokers “as swiftly as possible”.

WARNING—GRAPHIC FOOTAGE: The Punaro Group CEO Gen. Arnold Punaro (ret.) discusses the attacks on Israel from Hamas and reacts to the White House being grilled over refreezing the $6 billion from the Iran prisoner swap deal.

Russian oil at the widest premium above a G-7 imposed cap since the curb was introduced, highlighting the market’s importance to Moscow and a gap that may intensify scrutiny of the controversial mechanism. Crude processors in the key importer paid an average of $86 a barrel for Russian shipments in August, according to the Ministry of Commerce and Industry. That’s the biggest spread in dollar terms since the $60-a-barrel limit came into force after Moscow’s invasion of Ukraine in the first quarter of 2022. Oil rallied in the third quarter as OPEC+ leaders Russia and Saudi Arabia choked off some supply to tighten the market.

By Rae Wee

By David Lawder and Kanishka Singh

Republican priorities that had little chance of passing the Democratic-controlled Senate. The defeat left Republicans - who control the chamber by 221-212 - without a clear strategy to avert a shutdown that would close national parks, disrupt pay for up to 4 million federal workers and hobble everything from financial oversight to scientific research if funding is not extended past 12:01 a.m. ET (0401 GMT) on Sunday.

FOX News senior congressional correspondent Chad Pegram reports on Congress’ efforts to avoid a government shutdown.

By Moira Warburton and Richard Cowan

China are establishing two working groups to discuss economic and financial issues, the latest sign of a thaw in relations between the world's largest economies. The groups «will provide ongoing structured channels for frank and substantive discussions on economic and financial policy matters, as well as an exchange of information on macroeconomic and financial developments,» the US Treasury Department said in a statement Friday. Meetings will be held regularly at the vice-minister level, with officials reporting back to Treasury Secretary Janet Yellen and Chinese Vice Premier He Lifeng, according to the Treasury. That framework is notably less extensive than the bilateral forums earlier this century, when gatherings featured multiple cabinet members and spanned a wide array of subject matters. The announcement comes after a string of visits to China by high-level US officials that appear to have helped stabilize ties.

The U.S. Treasury Department and China’s Ministry of Finance have launched a pair of economic working groups in an effort to ease tensions and deepen ties between the nations

Currency traders preparing for this week’s policy decisions from the Federal Reserve and Bank of Japan got fresh reminders that Japanese officials stand ready to intervene in the currency market with possible US backing if swings in the yen are deemed excessive.

Gold prices fell on Wednesday after hitting a two-week highs in the last session, as traders await the U.S. Federal Reserve's policy decision for an updated outlook on the economy and monetary tightening path. FUNDAMENTALS * Spot gold eased 0.1% to $1,928.79 per ounce by 0111 GMT, after hitting its highest since Sept.

SINGAPORE—China’s top diplomat was set to begin a four-day visit to Russia after a surprise stopover in Malta for weekend talks with White House officials, as Beijing lays the groundwork for separate meetings between Chinese leader Xi Jinping and his U.S. and Russian counterparts.

Former President Donald Trump complained that interest rates are too high and indicated that if he gets another term in office, he might pressure Federal Reserve Chair Jerome Powell to loosen monetary policy.

The chair of the Senate Banking Committee, Sherrod Brown has urged key federal agencies to use their existing authority to address concerns within the cryptocurrency industry and enhance transparency to protect investors.

sanctions packages related to the war in Ukraine, penalizing more than 150 companies and individuals that officials said were profiting from Russia's invasion and their proximity to the Kremlin and President Vladimir Putin. The sanctions are part of the U.S. effort «to target Russia's military supply chains and deprive Putin of the equipment, technology, and services he needs to wage his barbaric war on Ukraine,» Treasury Secretary Janet Yellen said in a statement. «Today's actions show our global reach in imposing severe costs on Putin's oligarchs,» she added. The Treasury Department's sanctions targeted nearly 100 Russian military-linked elites and individuals — including some in Turkey, Georgia, Finland and the United Arab Emirates — involved with Russia's industrial, financial and technology industries.

The Biden administration plans to increase scrutiny of the investment plans of foreign-owned companies operating in the United States

G20 Summit 2023 LIVE Updates: As Prime Minister Narendra Modi and his Bangladesh counterpart Sheikh Hasina held a bilateral talk in New Delhi on Friday, the two countries also signed three memorandum of understanding (MoUs), including one on cooperation in Digital Payment mechanisms.Meanwhile, US President Joe Biden arrived in the national capital Delhi on Friday to participate in the G20 Summit to be chaired by Prime Minister Narendra Modi. US President Biden, along with Janet Yellen, went for a closed-door meeting with PM Modi on Friday, after the former arrived in India.The Quad, comprising India, US, Japan and Australia, has been focusing on practical cooperation to ensure a free and open Indo-Pacific in the backdrop of China's increasing military muscle-flexing in the region.The 18th G20 Summit is being held at the state-of-the-art Bharat Mandapam Convention Centre in New Delhi on September 9 and 10.A Leaders Declaration will be adopted at the conclusion of the New Delhi Summit.Check all the latest updates on the G20 Summit 2023 at Mint's LIVE blog:German Chancellor Olaf Scholz arrived in New Delhi today to attend the two-day-long G20 Summit which is being held under India's Presidency.He was received by Union Minister of State for MSME, Bhanu Pratap Singh Verma at the airport.A group of dancers also presented a traditional dance to welcome the German chancellor.In May this year Prime Minister Narendra Modi had met the German Chancellor Olaf Scholz and reviewed the progress in bilateral relations and exchanged views on regional developments and global challenges.The two leaders met on the sidelines of the 49th summit of the Group of Seven (G7) in the Japanese city of Hiroshima in May recently.