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  • Testimony of Secretary of the Treasury Janet L. Yellen to the Committee on Ways and Means, U.S. House of Representatives

    Testimony of Secretary of the Treasury Janet L. Yellen to the Committee on Ways and Means, U.S. House of Representatives | site |




    (Information contained in U.S. Department of the Treasury press release dated: June 17, 2021)


    Testimony of Secretary of the Treasury Janet L. Yellen to the Committee on Ways and Means, U.S. House of Representatives


    Chairman Neal, Ranking Member Brady, it’s a pleasure to be with you. When I took office back in January, the first – and most urgent – problem confronting our economy was obviously the pandemic: helping people make it to the other side of the crisis and ensuring they were met there by a robust recovery. Thanks to this Congress – and its passage of the American Rescue Plan – I believe we are well on our way towards that goal. But we have to be clear-eyed about something: The pandemic was not our only economic problem. Long before a single American was infected w...
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  • U.S. Department of the Treasury Issues Additional COVID-19-related Sanctions Authorizations and Guidance

    U.S. Department of the Treasury Issues Additional COVID-19-related Sanctions Authorizations and Guidance | site |



    (Information contained in U.S. Department of the Treasury press release dated: June 17, 2021) Washington - - Today, in order to further aid the global fight against COVID-19, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued three general licenses (referred to as the COVID-19-related GLs) to build upon Treasury’s existing authorizations for COVID-19-related transactions and activities. The new COVID-19-related GLs expand upon longstanding humanitarian exemptions, exceptions, and authorizations to cover additional COVID-19-related transactions and activities. These include transactions and activities involving the delivery of face masks, ventilators and oxygen tanks, vaccines and the production of vaccines, COVID-19 tests, air filtration systems, and COVID-19-related field hospitals, ...
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  • Testimony of Secretary of the Treasury Janet L. Yellen to the Committee on Finance, U.S. Senate

    Testimony of Secretary of the Treasury Janet L. Yellen to the Committee on Finance, U.S. Senate | site |




    (Information contained in U.S. Department of the Treasury press release dated: June 16, 2021) Chairman Wyden, Ranking Member Crapo, it’s a pleasure to be with you. When I took office back in January, the first – and most urgent – problem confronting our economy was obviously the pandemic: helping people make it to the other side of the crisis and ensuring they were met there by a robust recovery. Thanks to this Congress – and its passage of the American Rescue Plan – I believe we are well on our way towards that goal. But we have to be clear-eyed about something: The pandemic was not our only economic problem. Long before a single American was infected with COVID-19, millions of people in this country were running up against a series of long-term, structural economic challenges that undermined their ability to make a good living. For instanc...
    See more | Go to post

  • U.S. Treasury Awards 1.25 Billion Dollars to CDFIs to Support Economic Relief in Underserved Communities Affected by COVID-19

    U.S. Treasury Awards $1.25 Billion to Community Development Financial Institutions to Support Economic Relief in Underserved Communities Affected by COVID-19 | site |



    Announcement Made by Vice President Harris Alongside Treasury Secretary Janet Yellen, U.S. Senator Mark Warner, and U.S. Representative Maxine Waters


    (Information contained in U.S. Department of the Treasury press release dated: June 15, 2021)

    Washington - - The U.S. Department of the Treasury today awarded $1.25 billion in COVID-19 relief funds to 863 community development financial institutions (CDFIs). The awards were announced today by Vice President Kamala Harris at the White House with Treasury Secretary Janet L. Yellen. The grants will be made through Treasury’s CDFI Rapid Response Program (CDFI RRP) and will provide necessary capital for CDFIs to respond to economic challenges created by the COVID-19 pandemic, particularly in
    ...
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  • U.S. Department of the Treasury Announces Key Staff Appointments

    U.S. Department of the Treasury Announces Key Staff Appointments

    U.S. Department of the Treasury Announces Key Staff Appointments | site |


    (Information contained in U.S. Department of the Treasury press release dated: June 14, 2021)

    Washington - - Today, the United States Department of the Treasury announced three key additions to Treasury staff. These distinguished and diverse individuals join Treasury prepared to deliver results for the American people.

    Biographies of the appointees are listed below in alphabetical order:




    Kayla Arslanian, Deputy Executive Secretary, Office of the Executive Secretary

    Kayla Arslanian joins the Treasury Department from the New York City Mayor's Office, where she most recently served as Deputy Chief of Staff to Mayor Bill de Blasio. As a member of the senior leadership team responding to New York City’s COVID-19 crisis, Arslanian was responsible for increasing the city’s testing capacity and led planning efforts...
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  • Testimony of Secretary of the Treasury Janet L. Yellen to the Subcommittee on State, Foreign Operations, and Related Programs, U.S. House of Representatives

    Testimony of Secretary of the Treasury Janet L. Yellen to the Subcommittee on State, Foreign Operations, and Related Programs, U.S. House of Representatives | site |




    (Information contained in U.S. Department of the Treasury press release dated: June 10, 2021)


    Testimony of Secretary of the Treasury Janet L. Yellen to the Subcommittee on State, Foreign Operations, and Related Programs, U.S. House of Representatives


    Chairwoman Lee, Ranking Member Rogers, and members of the Subcommittee, it’s a pleasure to join you today. When I took office, one of my greatest concerns was a K-shaped recovery from the pandemic; a recovery where high-income households rebounded quickly – or even emerged better-off – while low- and middle-income families suffered for a very long time. We can be confident now that’s not going to happen, thanks in part to your support of the fiscal stimulus in the American Rescue Plan. The same, tho...
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  • Remarks by U.S. Secretary of the Treasury Janet L. Yellen at the SelectUSA Investment Summit

    Remarks by U.S. Secretary of the Treasury Janet L. Yellen at the SelectUSA Investment Summit | site |




    (Information contained in U.S. Department of the Treasury Statements and Remarks press release dated: June 7, 2021)

    As prepared for pre-recorded video Hello. It’s wonderful to join you to today. I want to thank the Secretary Raimondo and the Commerce Department for inviting me to say a few words about the US economy – and where our administration would like to guide it in the coming years. As you’re likely aware, our economy is in the midst of a rapid transition. With more and more Americans vaccinated, and more businesses resuming normal operations every day, our economy is returning to its pre-pandemic state. Increasingly, the question we are asking is not: What will the economy look like in 2022? By next year, I expect our economy to be back at full employment, in large part because we’ve provided an historic amount
    ...
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  • U.S. Treasury Secretary Janet L. Yellen to Attend G7 Finance Ministers Meeting in London, England

    U.S. Treasury Secretary Janet L. Yellen to Attend G7 Finance Ministers Meeting in London, England | site |


    (Information contained in U.S. Department of the Treasury press release dated: May 24, 2021) Washington - - The U.S. Department of the Treasury today announced that Secretary Janet L. Yellen will attend the G7 finance ministers meeting in London, England from June 4-5, 2021. While in London, Secretary Yellen will reinforce the U.S. commitment to policy priorities to promote the global recovery from the COVID-19 pandemic including supportive fiscal policies, vaccine access, and distribution. She will also discuss with her G7 partners the importance of improving public health to prevent future pandemics and building greener and more resilient economies to meet the challenges of climate change. Ahead of this trip, Secretary Yellen will also take part in a virtual meeting of G7 finance ministers and central bank governors. This will be the first overs...
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  • Remarks by Secretary of the Treasury Janet L. Yellen on A Better Deal for Americans to The U.S. Chamber of Commerce

    Remarks by Secretary of the Treasury Janet L. Yellen on A Better Deal for Americans to The U.S. Chamber of Commerce | site |




    (Information contained in U.S. Department of the Treasury Statement and Remarks press release dated: May 18, 2021)


    Remarks by Secretary of the Treasury Janet L. Yellen on A Better Deal for Americans to The U.S. Chamber of Commerce

    May 18, 2021

    As prepared for delivery.


    Thank you, Suzanne, for the introduction and for hosting this important forum. The Chamber of Commerce has been a leader in responding to the pandemic and promoting a global recovery. I look forward to continuing to work with you and the private sector to realize the Biden Administration’s vision for a better American economy.

    INTRODUCTION

    Anyone observing the United States in recent years would see striking contrasts across our economic landscape. We have bee...
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  • Secretary of the U.S. Treasury Janet L. Yellen’s Meeting with the American Bankers Association Board of Directors

    Secretary of the U.S. Treasury Janet L. Yellen’s Meeting with the American Bankers Association Board of Directors | site |


    (Information contained in U.S. Department of the Treasury press release dated: May 18, 2021) Earlier today, Secretary of the Treasury Janet L. Yellen met with members of the American Bankers Association (ABA) Board of Directors to discuss ways the Treasury Department and the ABA can work together to facilitate a strong recovery over the short-term and a robust economic expansion over the longer-term. The Secretary highlighted the role of banks as a necessary source of strength due to their critical role channeling emergency government support to households and businesses through the Paycheck Protection Program and Economic Impact Payments. The Secretary also noted the crucial role banks can play as part of the Biden Administration’s historic investments in both infrastructure and the essential services for families -like childcare- ...
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  • Secretary of the Treasury Janet L. Yellen to Chair Meeting of the Financial Literacy and Education Commission

    Secretary of the Treasury Janet L. Yellen to Chair Meeting of the Financial Literacy and Education Commission | site |


    (Information contained in U.S. Department of the Treasury press release dated: May 18, 2021)

    Washington - - Secretary of the Treasury Janet L. Yellen will chair a meeting of the Financial Literacy and Education Commission (FLEC) on May 26, 2021. The meeting will focus on the role of financial education in reducing economic inequity.

    The Commission’s vision is of sustained financial well-being for all individuals and families in the U.S. In furtherance of this vision, the Commission sets strategic direction for policy, education, practice, research, and coordination so that all Americans make informed financial decisions. Deputy Secretary of the Treasury Wally Adeyemo will moderate a discussion among experts in the field including:
    • John Hope Bryant, Founder, Chairman, and CEO of Operation Hope,
    • Marc
    ...
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  • Treasury and IRS Announce Families of 88 percent of Children in the U.S. to Automatically Receive Monthly Payment of Refundable Child Tax Credit

    Treasury and IRS Announce Families of 88% of Children in the U.S. to Automatically Receive Monthly Payment of Refundable Child Tax Credit | site |



    First Payments to Be Made on July 15


    (Information contained in U.S. Department of the Treasury press release dated: May 17, 2021) Washington - - The U.S. Department of the Treasury and the Internal Revenue Service announced today that the first monthly payment of the expanded and newly-advanceable Child Tax Credit (CTC) from the American Rescue Plan will be made on July 15. Roughly 39 million households — covering 88 percent of children in the United States — are slated to begin receiving monthly payments without any further action required. Treasury and the IRS also announced the increased CTC payments, will be made on the 15th of each month, unless the 15th falls on a weekend or holiday, allowing families who receive the credit by direct deposit to plan their budgets a...
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  • Remarks by U.S. Department of the Treasury Secretary Janet L. Yellen at the Pontifical Academy of Sciences and the Pontifical Academy of Social Sciences Event Dreaming of a Better Restart

    Remarks by U.S. Department of the Treasury Secretary Janet L. Yellen at the Pontifical Academy of Sciences and the Pontifical Academy of Social Sciences Event Dreaming of a Better Restart | site |


    (Information contained in U.S. Department of the Treasury Statements and Remarks press release dated: May 14, 2021)


    Remarks by U.S. Department of the Treasury Secretary Janet L. Yellen at the Pontifical Academy of Sciences and the Pontifical Academy of Social Sciences Event Dreaming of a Better Restart
    ​​​​​
    The COVID-19 pandemic has had a devastating effect on human life and our economies. It has also exacerbated global inequality, potentially undoing years of gains in reducing poverty and international economic convergence. Low-income countries are in a particularly difficult situation. Not only are they are facing rising poverty levels, but also increasing debt burdens, and little policy space. Many low-income countries lack the resourc...
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  • U.S. Department of the Treasury Distributes 742 Million Dollars to States and Territories through Homeowner Assistance Fund

    U.S. Department of the Treasury Distributes $742 Million to States and Territories through Homeowner Assistance Fund | site |


    (Information contained in U.S. Department of the Treasury press release dated: May 13, 2021) Washington - - Today, the U.S. Department of the Treasury announced that it has distributed $742 million to 42 states and 3 territories through the Homeowner Assistance Fund (HAF). A part of the Biden-Harris Administration’s American Rescue Plan, HAF was designed to prevent mortgage delinquencies and defaults, foreclosures, loss of utilities or home energy services, and displacement of homeowners experiencing financial hardship due to the COVID-19 public health crisis. “Today there are over 3 million homeowners behind on mortgage payments, and the pandemic has exacerbated the country’s already severe housing affordability crisis,” said Deputy Secretary of the Treasury Wally Adeyemo. “Treasury is focused on ensuring the American economy re...
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  • Deputy Secretary of the Treasury Wally Adeyemo's Meeting with the Board of Directors of the Opportunity Finance Network

    Deputy Secretary of the Treasury Wally Adeyemo's Meeting with the Board of Directors of the Opportunity Finance Network | site |


    (Information contained in U.S. Department of the Treasury press release dated: May 12, 2021)

    Washington - - Earlier today, Deputy Secretary of the Treasury Wally Adeyemo met with the Board of Directors of the Opportunity Finance Network (OFN), led by President and CEO Lisa Mensah. Deputy Secretary Adeyemo shared President Biden and Secretary Yellen’s vision for an equitable and sustainable recovery, including tapping into the unrealized potential of small businesses across the country by supporting Community Development Financial Institutions (CDFI) and Minority Depository Institutions (MDI) through policies like the $3 billion CDFI Rapid Response Program. Deputy Secretary Adeyemo asked for the Board’s advice on how Treasury can better utilize its tools to serve underrepresented communities and how to ensure the...
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  • Staff Reporter 1
    Testimony of Secretary of the Treasury Janet L. Yellen to the Committee on Ways and Means, U.S. House of Representatives
    by Staff Reporter 1
    Testimony of Secretary of the Treasury Janet L. Yellen to the Committee on Ways and Means, U.S. House of Representatives | site |




    (Information contained in U.S. Department of the Treasury press release dated: June 17, 2021)


    Testimony of Secretary of the Treasury Janet L. Yellen to the Committee on Ways and Means, U.S. House of Representatives


    Chairman Neal, Ranking Member Brady, it’s a pleasure to be with you. When I took office back in January, the first – and most urgent – problem confronting our economy was obviously the pandemic: helping people make it to the other side of the crisis and ensuring they were met there by a robust recovery. Thanks to this Congress – and its passage of the American Rescue Plan – I believe we are well on our way towards that goal. But we have to be clear-eyed about something: The pandemic was not our only economic problem. Long before a single American was infected w...
    06-18-2021, 09:55 AM
  • Staff Reporter 1
    U.S. Department of the Treasury Issues Additional COVID-19-related Sanctions Authorizations and Guidance
    by Staff Reporter 1
    U.S. Department of the Treasury Issues Additional COVID-19-related Sanctions Authorizations and Guidance | site |



    (Information contained in U.S. Department of the Treasury press release dated: June 17, 2021) Washington - - Today, in order to further aid the global fight against COVID-19, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued three general licenses (referred to as the COVID-19-related GLs) to build upon Treasury’s existing authorizations for COVID-19-related transactions and activities. The new COVID-19-related GLs expand upon longstanding humanitarian exemptions, exceptions, and authorizations to cover additional COVID-19-related transactions and activities. These include transactions and activities involving the delivery of face masks, ventilators and oxygen tanks, vaccines and the production of vaccines, COVID-19 tests, air filtration systems, and COVID-19-related field hospitals, ...
    06-18-2021, 03:33 AM
  • Staff Reporter 1
    Testimony of Secretary of the Treasury Janet L. Yellen to the Committee on Finance, U.S. Senate
    by Staff Reporter 1
    Testimony of Secretary of the Treasury Janet L. Yellen to the Committee on Finance, U.S. Senate | site |




    (Information contained in U.S. Department of the Treasury press release dated: June 16, 2021) Chairman Wyden, Ranking Member Crapo, it’s a pleasure to be with you. When I took office back in January, the first – and most urgent – problem confronting our economy was obviously the pandemic: helping people make it to the other side of the crisis and ensuring they were met there by a robust recovery. Thanks to this Congress – and its passage of the American Rescue Plan – I believe we are well on our way towards that goal. But we have to be clear-eyed about something: The pandemic was not our only economic problem. Long before a single American was infected with COVID-19, millions of people in this country were running up against a series of long-term, structural economic challenges that undermined their ability to make a good living. For instanc...
    06-17-2021, 08:40 AM
  • Staff Reporter 1
    U.S. Treasury Awards 1.25 Billion Dollars to CDFIs to Support Economic Relief in Underserved Communities Affected by COVID-19
    by Staff Reporter 1
    U.S. Treasury Awards $1.25 Billion to Community Development Financial Institutions to Support Economic Relief in Underserved Communities Affected by COVID-19 | site |



    Announcement Made by Vice President Harris Alongside Treasury Secretary Janet Yellen, U.S. Senator Mark Warner, and U.S. Representative Maxine Waters


    (Information contained in U.S. Department of the Treasury press release dated: June 15, 2021)

    Washington - - The U.S. Department of the Treasury today awarded $1.25 billion in COVID-19 relief funds to 863 community development financial institutions (CDFIs). The awards were announced today by Vice President Kamala Harris at the White House with Treasury Secretary Janet L. Yellen. The grants will be made through Treasury’s CDFI Rapid Response Program (CDFI RRP) and will provide necessary capital for CDFIs to respond to economic challenges created by the COVID-19 pandemic, particularly in
    ...
    06-16-2021, 08:50 AM
  • Staff Reporter 1
    U.S. Department of the Treasury Announces Key Staff Appointments
    by Staff Reporter 1
    U.S. Department of the Treasury Announces Key Staff Appointments | site |


    (Information contained in U.S. Department of the Treasury press release dated: June 14, 2021)

    Washington - - Today, the United States Department of the Treasury announced three key additions to Treasury staff. These distinguished and diverse individuals join Treasury prepared to deliver results for the American people.

    Biographies of the appointees are listed below in alphabetical order:




    Kayla Arslanian, Deputy Executive Secretary, Office of the Executive Secretary

    Kayla Arslanian joins the Treasury Department from the New York City Mayor's Office, where she most recently served as Deputy Chief of Staff to Mayor Bill de Blasio. As a member of the senior leadership team responding to New York City’s COVID-19 crisis, Arslanian was responsible for increasing the city’s testing capacity and led planning efforts...
    06-16-2021, 03:01 AM

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