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"We simply must pay our bills": Janet Yellen on debt, inflation, infrastructure and what the economy needs

Nov 9, 2021
The Treasury secretary doesn't see a 1970s-style inflation shock on the horizon. "The Federal Reserve wouldn’t permit that to happen."
Treasury Secretary Janet Yellen in Glasgow, Scotland, last week for the United Nations Climate Change Conference.
Christopher Furlong/Getty Images

The origin of the U.S. debt ceiling

Nov 2, 2021
Congress is once again considering raising the debt limit. When did that start?
A sign at a Washington, D.C., bus stop showed the amount of the national debt on Oct. 25. The clock is ticking on another debt ceiling agreement to prevent a default.
Julie Chabanas/AFP via Getty Images

Yellen says high inflation is temporary. And if it isn't?

Oct 25, 2021
Treasury Secretary Janet Yellen says inflation should ease by next year, but anxiety about that is still running high.
U.S. Treasury Secretary Janet Yellen addresses a hybrid meeting in October 2021. Yellen has reiterated her belief that current inflation is only temporary.
Chip Somodevilla via Getty Images

Fed Chair: Rise in inflation not "particularly large" from $1.9 trillion rescue package

Mar 23, 2021
Powell told lawmakers Tuesday that the “effect on inflation will be neither particularly large nor persistent,” from the $1.9 trillion rescue plan.
Federal Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen testified before the House Financial Services Committee Tuesday.
Screengrab via Youtube

Biden: Yellen needs a “Hamilton” musical. Dessa: Here you go.

Jan 21, 2021
We asked indie rapper and "Hamilton Mixtape" contributor Dessa to write a song about the first woman poised to be treasury secretary. Listen here.
"She’s 5-foot nothing, but hand to God, she can pop a collar, she can rock a power bob."
Chip Somodevilla/Getty Images

Janet Yellen says national recovery is more important than the national debt

Jan 19, 2021
President-elect Joe Biden's nominee for treasury secretary stressed that if we don't shore up the economy now, we'll have a worse crisis to manage later.
Then-Federal Reserve Chair Janet Yellen testifies before a House panel in 2016, with the national debt displayed in the background. Yellen, now nominated to run the Treasury Department, is focused on funding an economic recovery.
Alex Wong/Getty Images

What Janet Yellen would bring — and face — as treasury secretary

Jan 19, 2021
In her Senate confirmation hearing Tuesday, Yellen is calling on Congress to do more to fight a deep pandemic-induced recession.
Treasury secretary nominee Janet Yellen speaks after President-elect Joe Biden announced his economic team in Wilmington, Delaware, on Dec. 1, 2020.
Chandan Khanna/AFP via Getty Images

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Biden announces his "economic think tank"

Nov 30, 2020
The picks for the Council of Economic Advisers are a diverse group. If confirmed, Cecilia Rouse will be the first Black woman to lead the council.
President-elect Joe Biden has selected several labor economists for his economic team.
Mark Makela/Getty Images

Janet Yellen, Biden's pick for treasury secretary, says U.S. needs more pandemic relief spending

Yellen, a former Fed chair, has advocated for more spending to aid small businesses and the unemployed during COVID-19.
Yellen is seen as an authority on what happens if the government cuts back on stimulus spending too soon.
Brendan Smialowski/AFP via Getty Images

AP source: Biden taps ex-Fed chair Yellen to lead treasury

Nov 23, 2020
Yellen, who is widely admired in the financial world, would be the first woman to lead the Treasury Department.
Former Federal Reserve Chair Janet Yellen speaks during her last news conference in office in 2017 in Washington, D.C.
Alex Wong/Getty Images