Janet Yellen Archives - The Michigan Star

House GOP Vows to Refer ActBlue Fundraising Probe to Incoming Trump Justice Department

December 16, 2024 Just the News

House Administration Committee Chairman Brian Steil said he will refer findings from his ongoing probe into the progressive fundraising platform ActBlue to the incoming Trump Justice Department.

Steil believes the new Attorney General Pam Bondi, if confirmed, will be more than willing to probe the Democratic fundraising powerhouse over allegations it failed to implement sufficient security measures on its platform to prevent illegal foreign monies from flowing into U.S. political campaigns.

Congress to Subpoena ActBlue as Feds Confirm Suspicious Activity Tied to Democrat Fundraising

October 30, 2024 Just the News

House investigators prepared Wednesday to subpoena the Democrat donations platform ActBlue in a rapidly expanding probe into possible illicit foreign funding in the 2024 election after the Treasury Department confirmed to Congress its money laundering detection system has generated hundreds of suspicious activity reports related to the online fund-raising giant.

The dramatic developments were communicated to House members and ActBlue itself in a series of memos this week obtained by Just the News that reaffirmed that lawmakers fear foreign adversaries like China, Iran, Venezuela and Russia may be routing illicit foreign money into Democratic coffers by using the names of unsuspecting American donors.

CBO: U.S. Budget Deficit at $1.7 Trillion over Past Year

June 14, 2024 The Center Square

The nonpartisan Congressional Budget Office this week revealed the magnitude of the federal deficit, growing to $1.7 trillion in one year, as the national public debt reached $34.7 trillion for the first time in U.S. history.

On Monday alone, the national public debt grew by $37 billion. By Tuesday, it surpassed $34.7 trillion overall.

Economist: ‘True’ Federal Debt Masked by Draining U.S. Treasury

June 3, 2024 The Center Square

The federal debt continues to climb to unprecedented levels, but the “actual, true” debt is higher if the Treasury weren’t being drained, a national economist says.

Citing Bureau of the Fiscal Service data, E. J. Antoni, Ph.D., an economist at the Heritage Foundation, argues that as the federal debt increases, the “true daily deficit” is being masked by the amount of cash being drained from the U.S. Treasury by Treasury Department Secretary Janet Yellen.

Alex Soros Attends McCain Institute Sedona Forum to Stop Trump in 2024

May 6, 2024 TPappert

Alex Soros, the son of Hungarian-American financier George Soros, confirmed in a Tuesday posts to social media that he attended the 2024 Sedona Forum held by the McCain Institute in Arizona and discussed former President Donald Trump with at least one high profile attendee.

Commentary: Free Traders Are Wrong – It’s Time to Try Trade a New Way

April 9, 2024 Michigan Star Staff

A recent Daily Mail poll showed 54 percent of voters support Trump’s proposal to put 10 percent tariffs on most imports, from China or not. This is sacrilege to American free traders.

The free-trade globalization crowd – who saw the 80s up to early 2000s as their heyday– believe in a world that does not exist the way they say it does on paper. Do you think Germany allows Ford Mustang’s into their country tariff free? EU charges Ford a 10 percent tariff, four times what we charge their automakers.

Lawmakers: Probe Supply Chain of Michigan EV Plant

January 31, 2024January 30, 2024 The Center Square

A letter urges an investigation into suppliers of a Ford electric vehicle plant in Marshall, Michigan.

Republican U.S. Reps. Mike Gallagher, R-Wisconsin, chairman of the House Select Committee on the CCP, and Cathy McMorris Rodgers, R-Washington, chair of the House Committee on Energy and Commerce, signed the letter.

Americans’ Trust in Economic Authorities Plummets, Poll Finds

May 10, 2023May 10, 2023 Michigan Star Staff

Americans lack faith in their country’s main economic authorities, according to a Gallup poll published Tuesday.

The poll asked participants to state their confidence level that officials will “do or recommend the right thing for the economy.” It found that 34% to 38% of American adults have a “great deal” or “fair amount” of confidence in President Joe Biden, Federal Reserve Chair Jerome Powell, Treasury Secretary Janet Yellen and congressional leaders.

Janet Yellen Says More Bank Bailouts Could Be on the Horizon

March 22, 2023March 21, 2023 Michigan Star Staff

Treasury Secretary Janet Yellen said in remarks Tuesday that regulators may ensure all deposits at more banks following the Silicon Valley Bank (SVB) and Signature Bank depositor bailouts.

Yellen said the bailouts were essential to safeguard the U.S. banking system in prepared remarks at the American Bankers Association Tuesday, referencing the Federal Reserve’s actions in insuring the deposits of SVB’s customers.

Janet Yellen’s Policy Would Destroy Small U.S. Banks While Bailing Out Chinese Depositors, Experts Say

March 18, 2023 Michigan Star Staff

Treasury Secretary Janet Yellen stated during her testimony at a Senate Finance Committee hearing on March 16 that she, the Federal Deposit Insurance Corporation board, the Fed board, and President Joe Biden would only safeguard uninsured deposits at banks whose failures they determine would pose “systemic risks” to the economy, which will destroy small regional banks, according to experts who spoke to the Daily Caller News Foundation.

On the other hand, it will enable big banks to be more reckless because their depositors will be made whole if they fail. In the case of Silicon Valley Bank (SVB), this will include many Chinese companies that will be getting reimbursed by community banks, according to Reuters.

U.S. Hits $31.4 Trillion Debt Ceiling as Treasury Announces ‘Extraordinary Measures’ to Avoid Default

January 20, 2023January 19, 2023 Just the News

The United States reached its debt ceiling of $31.38 trillion on Thursday, forcing the Treasury Department to implement “extraordinary measures” to avoid defaulting on bonds. Treasury Secretary Janet Yellen wrote how the U.S. had reached the debt limit in a letter Thursday to members of Congressional leadership.

Biden’s ‘Racial Equity’ Committee Includes Soros-Funded Nonprofit Heads

October 9, 2022October 8, 2022 Michigan Star Staff

President Joe Biden’s Treasury Department appointed two people to its “racial equity” committee that run nonprofits that received millions from left-wing billionaire George Soros’ Open Society Foundations (OSF) network, records show.

On Tuesday, Treasury Secretary Janet Yellen unveiled the members for its Committee on Racial Equity, which will advise the agency on how “to advance racial equity in the economy and address acute disparities for communities of color.” Felicia Wong and Lorella Praeli, two committee members, lead four nonprofits that got over $15.7 million from OSF’s network between 2016 and 2020, according to OSF’s grant database.

Biden Administration Is Withholding Hunter Biden Documents, Oversight Republican Says

July 10, 2022July 9, 2022 Admin

Ranking Member of the House Oversight Committee Rep. James Comer, R-Ky., sent a letter to U.S. Treasury Secretary Janet Yellen this week alleging that the federal agency is withholding documents that detail the foreign transactions conducted by the president’s son, Hunter Biden.

Yellen to Testify on Biden Budget After Admitting She Was Wrong on Inflation

June 7, 2022June 6, 2022 The Center Square

U.S. Treasury Secretary Janet Yellen will testify before the Senate Finance Committee Tuesday, just days after she admitted she was wrong about inflation earlier in President Joe Biden’s term.

The hearing, which is on “the president’s fiscal year 2023 budget” will only feature testimony from Yellen, according to the committee’s website.

Biden’s budget likely will be under extra scrutiny as gas prices continue to hit record highs and inflation rises at the fastest level in decades.

‘I Was Wrong’: Biden’s Treasury Sec Admits She Bungled Inflation Prediction

June 3, 2022June 2, 2022 Michigan Star Staff

United States Treasury Secretary Janet Yellen admitted she was wrong in the past about her inflation predictions during an interview with CNN’s Wolf Blitzer.

“I think I was wrong then about the path that inflation would take,” Yellen told Blitzer Thursday on “The Situation Room” in response to 2021 comments where she claimed inflation would be “a small risk.”

Sen. Tim Scott Demolishes Secretary Janet Yellen’s Claim Unborn Babies Must Be Aborted to Benefit Economy

May 12, 2022May 11, 2022 Susan Berry, PhD

Sen. Tim Scott (R-SC) shut down Treasury Secretary Janet Yellen’s claim that women must be able to abort their unborn children in order to contribute to the economy as workers.

During a Senate Banking Committee meeting Tuesday, Yellen said a decision by the U.S. Supreme Court to overturn Roe v. Wade would damage the economy.

Janet Yellen Defends Sustainable Investing Craze That’s Trying to End U.S. Oil and Gas Drilling

March 26, 2022March 25, 2022 Michigan Star Staff

Treasury Secretary Janet Yellen defended sustainable investing practices and climate change policies that have negatively impacted U.S. oil and gas drilling in an interview Friday.

“I don’t think that the ESG movement and the emphasis on climate change is creating the problems that we have,” Yellen told CNBC’s “Squawk Box” on Friday morning when asked if investors need to rethink their stance on fossil fuels. “If anything, the problem is that we haven’t moved as rapidly as we should have.”

Congress Considers Bill to Expose Russian, Chinese Funding of American Groups

March 22, 2022March 22, 2022 Admin

Newly introduced legislation would require think tanks and nonprofits to reveal whether they have significant funding from governments and political groups in Russia and China.

U.S. Rep. Lance Gooden, R-Texas, introduced the “Think Tank and Nonprofit Foreign Influence Disclosure Act” Thursday, which would require nonprofits and think tanks to disclose foreign donations over $50,000. The bill would require the U.S. Treasury Department to create a “publicly available in a searchable database information relating to such gifts and contributions received from foreign governments and political parties…”

Treasury Department Hires First-Ever ‘Counselor for Racial Equity’

October 27, 2021October 26, 2021 Michigan Star Staff

The Treasury Department announced Monday it hired its first every Counselor for Racial Equity to support President Biden’s push for economic opportunities for people of color.

Janis Bowdler, former president of the JPMorgan Chase & Co. Foundation, will serve as the first “Counselor for Racial Equity,” the Treasury Department said.

Democrats’ Budget Set to Include Global Minimum Tax, Treasury Secretary Says

October 12, 2021October 11, 2021 Michigan Star Staff

Treasury Secretary Janet Yellen said Sunday that she is confident that the Democrats’ budget will include a global minimum tax for corporations just days after nearly 140 countries endorsed the measure.

“I am confident that what we need to do to come into compliance with the minimum tax will be included in a reconciliation package,” Treasury Secretary Janet Yellen told ABC News on Sunday. “I hope that it will be passed and we will be able to reassure the world that the United States will do its part.”

Though the United States and 135 other countries signed the agreement, each nation must pass its own legislation to enact the minimum tax rates. Democrats are currently crafting the budget, a spending package that would reshape the social safety net, but the process has slowed by disagreements between the party’s moderate and left wings.

Commentary: Afghanistan Reveals U.S. Choices Have Dangerously Narrowed

August 25, 2021August 24, 2021 Michigan Star Staff

In the “Nicomachean Ethics,” Aristotle has a lot to say about the activity of choice and its place in securing “eudaimonia,” that “good-spiritedness” that is synonymous with human fulfillment.

Choice is critical in the metabolism of virtue. But, Aristotle points out, it is possible for someone, through bad choices, to put himself in a situation from which choice cannot rescue him.

Janet Yellen Warns of ‘Irreparable Harm’ If Congress Doesn’t Raise the Debt Ceiling

July 26, 2021July 25, 2021 Michigan Star Staff

Treasury Secretary Janet Yellen warned congressional leaders Friday that failing to raise the debt ceiling would risk “irreparable harm to the U.S. economy and the livelihoods of all Americans.”

In a letter, Yellen said that she did not know how long the Treasury Department could prevent the U.S. from defaulting on its debt, which could carry catastrophic economic consequences. The debt ceiling is set to expire on Aug. 1.

Treasury Secretary Warns of ‘Rapid’ Inflation This Year

July 19, 2021July 18, 2021 The Center Square

As more federal data show a major spike in inflation, another top federal official said the U.S. is in for more aggressive inflation for the rest of 2021.

Federal officials have been pressed to speak on rising inflation after \data released earlier this week showed that the all items index increased 5.4% over the last 12 months, the biggest spike since the 2008 financial crisis.

Treasury Secretary Janet Yellen commented on the rise in inflation, saying it would grow worse this year.

Biden Selects Former Federal Reserve Chairwoman Janet Yellen for Treasury Secretary, Would Be First Woman to Hold Position: Report

November 25, 2020November 24, 2020 Michigan Star Staff

President-elect Joe Biden is expected to name former Federal Reserve Chairwoman Janet Yellen for secretary of the Department of the Treasury, The Wall Street Journal first reported Monday.

Yellen, 74, who was the first woman to serve as Federal Reserve chair after she was confirmed by the Senate in 2014, would be the first woman to head the Treasury Department, according to CNBC. Yellen is widely considered to be a “safe” pick with a high likelihood of confirmation by a closely divided Senate.