How to buy more than $10,000 in nearly risk-free I bonds this year

Chris Ryan | Getty Images I bonds have surged in popularity as riskier assets slip. The bonds are backed by the federal government, the principal does not lose value and the bonds earn monthly interest through two parts, a fixed rate and a variable rate. Currently, the variable component will pay a record 9.62% annual … Read more

Yellen says financial system working well despite ‘potential for continued volatility’

US Treasury Secretary Janet Yellen testifies during a hearing before Senate Banking, Housing and Urban Affairs Committee on Capitol Hill November 30, 2021 in Washington, DC. Alex Wong | Getty Images Treasury Secretary Janet Yellen believes the US financial system is in working order, but that Russia’s invasion of Ukraine and China’s Covid-19 lockdowns are … Read more

The latest U.S. sanctions against Russia target a digital currency, a bank and another oligarch

US President Joe Biden, with Treasury Secretary Janet Yellen (L) and Defense Secretary Lloyd Austin (R), speaks during a meeting with his cabinet at the White House in Washington, DC, on March 3, 2022. Jim Watson | AFP | Getty Images The US Treasury Department announced Wednesday that it has expanded its wide raft of … Read more

Yellen warns that war in Ukraine will have ‘enormous’ global economic impact

US Treasury Secretary Janet Yellen testifies before a House Financial Services Committee hearing on “the State of the International Financial System,” on Capitol Hill in Washington, US, April 6, 2022. Tom Brenner | Reuters Treasury Secretary Janet Yellen cautioned Wednesday that Russia’s attack on Ukraine could cause a major hit to the global economy. “Russia’s … Read more

U.S. issues warning to crypto, banks helping Russia bypass sanctions

Wally Adeyemo, deputy US Treasury secretary, speaks during a news conference at the Department of Justice in Washington, DC, US, on Monday, Nov. 8, 2021. Bloomberg | Bloomberg | Getty Images The US will hold accountable any actor that seeks to help Russia bypass economic sanctions amid the Kremlin’s unprovoked onslaught on Ukraine, Deputy US … Read more

Treasury Secretary Janet Yellen sees no need for China sanctions over Russia war

Treasury Secretary Janet Yellen on Friday said she does not believe the US should impose sanctions on China because of its ties to Russia. “I do not think that’s necessary or appropriate,” the Treasury secretary told “Squawk Box” of potential penalties on Beijing. “Senior administration officials are talking privately and quietly with China to make … Read more

How Americans can cut costs and save amid the pain of record inflation

People wear face masks outside a supermarket on the Upper West Side in New York City. Noam Galai | Getty Images Government data shows that inflation has broken another 40-year plus record. And even Treasury Secretary Janet Yellen predicted higher prices could be with us for the rest of this year. “We’re likely to see … Read more

Treasury Secretary Janet Yellen says inflation could be high for a year

Treasury Secretary Janet Yellen said Thursday that Americans will likely see another year of “very uncomfortably high” inflation as Russia’s invasion of Ukraine muddles her prior forecast that price acceleration would moderate in the months ahead. “I think there’s a lot of uncertainty that is related to what’s going on with Russia in Ukraine,” Yellen … Read more

Treasury Department assures Wall Street it can still trade Russian oil

Oil pumping jacks, also known as “nodding donkeys” in a Rosneft Oil Co. oilfield near Sokolovka village, in the Udmurt Republic, Russia, on Friday, Nov. 20, 2020. Bloomberg | Bloomberg | Getty Images The US Treasury Department clarified Friday afternoon that Wall Street’s traders and banks can continue to buy and sell Russian oil and … Read more