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Bessent noted that Powell's term as Fed chair ends in May 2026, and that he should see out his full term if he wants to.
As the pandemic redraws the trade and economic map of the world, the Biden administration has mooted friendshoring or allyshoring - manufacturing and sourcing components and raw materials within a group of like-minded countries.
Developing countries like India and China have been increasingly buying discounted Russian oil as global energy prices remain high and Western nations seek to scale down their reliance on Russian energy.
From Zoom meetings to top-notch tax experts, US Treasury Secretary Janet Yellen tapped all possible resources to win over the reluctant countries
The global tax deal would change how taxing rights were allocated, allowing countries to collect levies from large, profitable multinational firms
Yellen, a former Fed chair, is an ultimate “insider” who understands monetary policy theory and practice and, also, how fiscal and monetary policy can be interlinked
Removing them could leave significant corners of the financial world vulnerable to the type of volatility that cascaded through the system as virus fears mounted in the spring
The country's economy has been ravaged by the challenges posed by the coronavirus crisis. More than 22 million people have lost their jobs, as the heavy job-creating sectors like travel and tourism has come to a standstill.
There are several factors behind the recent fall in the Chinese yuan, or renminbi (RMB), including economic issues in China, Mnuchin he told the newspaper ahead of meetings in Bali, Indonesia of the IMF, World Bank and G20.
Jacob Lew said today that China had agreed to try to wind down unprofitable "zombie enterprises" and to push ahead with reforms to make its economy more balanced.
US Treasury Secretary Jacob Lew kept up the pressure on Japan on May 21 not to devalue its currency after repeated threats by Tokyo to intervene in forex markets to tame a resurgent yen
Both Jaitley and Lew are in Davos to attend the World Economic Forum. The two leaders are expected to discuss bilateral economic relationship during their meeting today.
Li Keqiang said China successfully swerved systemic financial risks and that there was no long-term basis for depreciation of China's currency, the renminbi. Li was speaking at a meeting with former US treasury secretary Henry Paulson.
Finance Ministry on Sunday said international agencies like IMF, World Bank and OECD are highly appreciative of India's policy initiatives and measures to deal with tax evasion at global level.
Central banks have been purchasing fixed-income assets in secondary bond markets since the global financial crisis of 2008. The aim is to boost liquidity in the banking sector and thus encourage banks to lend to the wider economy.
Intimating mediapersona about the dialogue between the two nations, Jaitley said the discussions veered around ease of doing business in India, scope of investment in infra and manufacturing, terror funding, money laundering cooperation to check black money etc.
In July 2012, the then US Treasury Secretary Tim Geithner had explained to the German finance minister Wolfgang Schaeuble that the most aggressive forms of avoidance involved tech companies parking valuable know-how in low-tax countries and making other parts of the company pay high rates to use it
Finance minister P Chidambaram will leave for a four-day visit to the United States on Monday to woo investments for India. He will be meeting the US Treasury Secretary and other industrialists there.
China's government has been meddling in the markets by buying shares in the country`s four big banks, a move analysts expect to continue until jitters about high interbank lending rates and concerns about the economic outlook ease
President Barack Obama broke the mold on Thursday by choosing a budget wonk to serve as US Treasury secretary, leaving gaps on the international and financial side that could make for a rocky transition.
US Treasury Secretary Timothy Geithner's plans to leave near the end of January put the White House in a tricky spot, depriving the Obama administration of its longest-serving economic adviser for its next fiscal showdown with Congress.
US Treasury Secretary Timothy Geithner plans to stay on into early next year to help the Obama administration forge a deal with lawmakers to avert a looming fiscal crisis, the White House said on Friday.
Describing India's recent reforms initiatives as "very promising", US Treasury Secretary Timothy Geithner today said it would have positive outcomes for the country's economy.
US Treasury Secretary Timothy Geithner would be paying two-day visit to India early next month for the third round of high-level economic dialogue between the two nations.
European Central Bank President Mario Draghi must back up his pledge to do what it takes to protect the euro when the bank's policymakers meet on Thursday or else face deep disappointment from investors hungry for - and expecting - immediate action.
