News list for " treasury department"
"We work with DOGE to identify waste, fraud and abuse," the US Treasury said in a statement. "To that end, the IRS has rescinded a previously planned $1.90 billion contract and committed to focusing on and using taxpayer funds wisely. We have included project SoW and FPDS entries for full transparency. We look forward to continuing to work with the DOGE team to reduce waste."
The US Treasury secretary said the strong dollar policy continued under Mr. Trump, saying in an interview that it had not wavered at all. "We want a stronger dollar. We don't want other countries to manipulate trade by devaluing their currencies."
US Treasury secretary Scott Bescent said he had personally vetted Treasury employees on Elon Musk's government efficiency team who had read-only access to federal payments data and that the Treasury payments system had not been modified. "This is an operational plan to suggest improvements," Mr. Bescent said in an interview on Thursday. "The ability to change the system is in the hands of the Fed. This system is not even run by us." Mr. Bescent is confident in Mr. Musk's team,...
The US Treasury secretary said the strong dollar policy continued under Mr. Trump, saying in an interview that it had not wavered at all. "We want a stronger dollar. We don't want other countries to manipulate trade by devaluing their currencies."
Mr. Bescent, the US Treasury secretary, said there was "a great deal of misinformation" about the Department of Government Effectiveness and the Treasury.
The US Treasury issued sanctions against Iran, targeting Iranian shipping, oil and energy companies. WTI crude oil rose nearly $1 in the short term.
US Treasury Secretary Vincent: US President Donald Trump has not called on the Federal Reserve to lower interest rates.
The Trump administration's focus on lowering borrowing costs is on the 10-year Treasury yield rather than the Federal Reserve's benchmark short-term interest rate, Treasury Secretary Vincent Bescent said. "He and I are focused on the 10-year Treasury," Mr. Bescent told Fox Business when asked if President Donald Trump wanted to lower rates. "He's not calling for...
In a letter to congressional leaders, Janet Yellen, Treasury secretary, said the Treasury expected the US to hit the debt ceiling as early as January 14-23, 2025, and that "extraordinary measures" might be needed to avoid the federal government falling into default. Risk assets ended weaker just before the letter was released. US stocks fell, with the Standard & Poor's 500, Nasdaq 100 and Dow Jones Industries Average all down about...
U.S. Treasury Secretary Janet Yellen said she had spoken with Trump's nominee for Treasury Secretary, Scott Bessent, to discuss the broad responsibilities of the Treasury Department.
U.S. Treasury Secretary Janet Yellen has again called for stricter regulation of cryptoassets and stablecoins, noting the need to address vulnerabilities in the financial system. Speaking at the final meeting of the Financial Stability Oversight Council (FSOC) this year, Yellen highlighted the dual impact of digital asset innovation. While it brings market benefits, it also poses significant risks such as cyber security threats and operational challenges. Yellen warned that digital asset innovat...
Total foreign holdings of Treasuries rose to $8.6729 trillion in September from $8.5034 trillion in August, the highest level on record and the fifth straight monthly rise, according to the latest data from the US Treasury on Monday. China's holdings fell $3 billion to $772 billion in September, while Japan's fell $6 billion to $1.123 trillion in September.
The US Treasury said Monday that it plans to borrow $546 billion in the fourth quarter of this year, $19 billion lower than expected in July. The cash balance is expected to be $700 billion at the end of December, the Treasury said in a statement. The cash balance is expected to be $850 billion at the end of March 2025 and $823 billion in Quarter 1 2025. The Treasury issued $762 billion in net debt in the third quarter and had a cash balance of $866 billion as of the third quarter.
Asked last week whether the dollar's status as the world's reserve currency was stable, the US Treasury badge hanging from the podium fell to the ground and made a loud noise. Yellen responded: "I have confidence in the status of the dollar."
The US Treasury said on October 17 that it used artificial intelligence to sift through data and recover $4 billion in "fraudulent and improper payments" in fiscal year 2024. By adopting artificial intelligence, the Treasury recovered nearly four times more fraudulent payments than in the previous fiscal year, when it recovered $652.70 million in fraudulent payments.
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