News list for " the Treasury Department"
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."
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...
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 economy is in good shape, with cooler jobs data in recent months indicating a soft landing rather than a recession, according to Treasury secretary Janet Yellen, who said there had been no major job cuts and a "deep recovery".
