As inflation cools, workers "are getting ahead," Treasury's Yellen says
"Americans should feel confident that inflation will come down to levels that will no longer really be noticeable or worrisome to them," Yellen told CBS News.
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"Americans should feel confident that inflation will come down to levels that will no longer really be noticeable or worrisome to them," Yellen told CBS News.
"We're not messing around," Union chief Shawn Fain said in setting Friday deadline unless talks progress with Big Three automakers.
The House passed the bill to raise the debt ceiling Wednesday. Now, the Senate will take it up.
To pass their debt ceiling deal, House Speaker Kevin McCarthy and President Joe Biden will now have to sell it to their respective parties.
House Speaker Kevin McCarthy says Republican negotiators are "closer to an agreement" that would resolve the looming debt crisis, but there's no deal yet with President Joe Biden.
Millions of Social Security recipients "need to be very careful" about spending because payments could be delayed, one expert said.
The treasury secretary also told G-7 finance ministers and central bank chiefs meeting in Japan that a first-ever U.S. default on its debts is "unthinkable."
The treasury secretary moved up her estimate of when the U.S. risks defaulting on its debt.
The treasury secretary says the plan would be set in motion if additional collapses trigger a run on banks.
"Americans can feel confident that their deposits will be there when they need them," the treasury secretary is expected to tell Congress Thursday.
The collapse of Silicon Valley Bank is the largest of a financial institution since the failure of Washington Mutual in 2008.
The treasury secretary warned household payments on mortgages and auto loans would go up, and other payments to military families and seniors would not be made.
Janet Yellen is set to unveil the first U.S. currency bearing her signature, marking the first time that U.S. bank notes will bear the name of a female treasury secretary.
