Outgoing Treasury Secretary Janet Yellen is announcing that she's planning to take "extraordinary measures" to save the U.S. economy beginning on January 21 — the day after President-elect Donald Trump will officially begin his second term in office. Politico reported Friday that Yellen made the announcement in a letter to congressional leaders including House Speaker Mike Johnson (R-La.), Senate Majority Leader John Thune (R-S.D.), House Minority Leader Hakeem Jeffries (D-N.Y.) and Senate Minority Leader Chuck Schumer (D-N.Y.). The letter comes as the United States prepares to reach the statutory limit on borrowing, which Yellen wrote last month would happen between January 14 and January 23. She warned in that letter that the Department of the Treasury would need to take "extraordinary measures" in order to avoid a debt default, should Congress fail to raise the debt ceiling before then.

By Andrea Shalal NEW YORK (Reuters) - U.S. Treasury Secretary Janet Yellen said on Wednesday U.S. President-elect Donald Trump's plan to set up a new government agency to collect tariffs would duplicate an existing agency and was unlikely to save money. Yellen, taping an appearance on "The Late Show with Stephen Colbert," dismissed Trump's plan for an "External Revenue Service," first announced

The Biden administration’s spending on stimulus to keep the economy going during the COVID pandemic may have contributed a little bit to inflation, Treasury Secretary Janet Yellen said in an interview on CNBC on Wednesday. Yellen said supply chain issues and shortages were the main factor driving up prices during the pandemic, but conceded that stimulus spending could have played a role as well. “It may have contributed a little bit to the...

Treasury Secretary Janet Yellen joins CNBC's 'Money Movers' to reflect on her tenure in the Biden administration.

By Andrea Shalal WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen on Wednesday will defend the Biden administration's response to the COVID pandemic, arguing that its stimulus spending and other policies led to robust growth and averted millions of job losses. In her last major speech before leaving office on Tuesday, Yellen will argue that the Biden administration's stimulus checks,