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Good Morning San Antonio 4:30a

The KSAT 12 News Team provides a look at local, regional, statewide and national news events and the latest information on local traffic and weather issues.

A warning and 2 advisories in effect for 25 regions in the area

See the complete list

LIVE

Good Morning San Antonio 4:30a

A warning and 2 advisories in effect for 25 regions in the area

JANET YELLEN


2 days ago

Biden Needs to Show Heโ€™s Serious About the Debt Limit

The president is right not to negotiate with Republicans, but he also needs to take action himself.

washingtonpost.com

Yellen focuses on energy transition in South Africa visit

U.S. Treasury Secretary Janet Yellen has discussed South Africaโ€™s transition from its heavy reliance on coal to greener energy sources during talks with the countryโ€™s finance minister.

Yellen tours wildlife reserve to start South Africa visit

U.S. Treasury Secretary Janet Yellen has used a tour of a wildlife park in South Africa to announce a joint initiative to combat wildlife trafficking and related criminal activities in both countries.

China uses US debt battle to deflect pressure on Africa debt

The Chinese government says the U.S. should stop pressuring it on debt relief for Zambia and get its own financial house in order to avert a default and the possible fallout on the global economy.

McConnell says any debt ceiling solution will come from McCarthy and Biden

Senate Minority Leader Mitch McConnell and then-Vice President Joe Biden negotiated on the debt ceiling in 2011.

cbsnews.com

Yellen visits Zambian farm to showcase Africa's ag potential

U.S. Treasury Secretary Janet Yellen has visited sites in rural and urban Zambia to showcase Africa's potential to help solve the world's problems with food shortages.

Treasury tells Congress it will suspend some federal retirement funding after debt limit breach

The Treasury Department will suspend funding for a federal employee retirement benefit program until the debt ceiling is raised or suspended.

cnbc.com

Treasury takes another 'extraordinary' step on debt limit

U.S. Treasury Secretary Janet Yellen says in a letter to congressional leaders that she's suspending the reinvestment of federal bonds in a government workersโ€™ savings plan.

Treasury takes another 'extraordinary' step on debt limit

U.S. Treasury Secretary Janet Yellen sent a letter Tuesday to congressional leaders saying she's suspending the reinvestment of some federal bonds in a government workers' savings plan โ€” an additional โ€œextraordinary" measure to buy time for President Joe Biden and Congress to raise the nation's debt limit. Yellen said in the letter that as of Monday she also determined that the government โ€œwill be unable to invest fullyโ€ in the government securities portion of the thrift savings fund in the federal employees' retirement system.

news.yahoo.com

Yellen pushes for China to address Zambia's big debt burden

U.S. Treasury Secretary Janet Yellen says on the second leg on her African tour it's โ€œcritically importantโ€ to address Zambia's debt crisis.

Yellen in Zambia to discuss debt to China, public health

U.S. Treasury Secretary Janet Yellen is in Zambia on the second leg of her African tour, a stop aimed at promoting American investment and ties while she's in a capital city that is visibly dominated by Chinese dollars. Visitors to Lusaka arriving at the renovated Kenneth Kaunda International Airport see a facility expanded in 2015 with Chinese financing. Zambia became Africaโ€™s first pandemic-era sovereign to default when it failed to make a $42.5 million bond payment in November 2020.

news.yahoo.com

US ambassador heading to Africa as part of Biden's big push

The U.S. ambassador to the United Nations is the second Cabinet member heading to Africa as part of President Joe Bidenโ€™s big push to engage with the worldโ€™s second-largest continent.

The AP Interview: Yellen says debt standoff risks โ€˜calamityโ€™

U.S. Treasury Secretary Janet Yellen says in an Associated Press interview that she expects Congress will ultimately vote to raise America's debt limit.

Door of No Return: Yellen visits onetime slave-trading post

U.S. Treasury Secretary Janet Yellen has paid a solemn visit to an island off Senegal that is one of the most recognized symbols of the horrors of the Atlantic slave trade that trapped tens of millions of Africans in bondage.

Door of No Return: Yellen visits onetime slave-trading post

U.S. Treasury Secretary Janet Yellen paid a solemn visit Saturday to the salmon-colored house on an island off Senegal that is one of the most recognized symbols of the horrors of the Atlantic slave trade that trapped tens of millions of Africans in bondage for generations. Yellen, in Senegal as part of a 10-day trip aimed at rebuilding economic relationships between the U.S. and Africa, stood in the Gorรฉe Island building known as the House of Slaves and peered out of the โ€œDoor of No Return,โ€ from which enslaved people were shipped across the Atlantic.

news.yahoo.com

In Senegal, Yellen talks about future of US-Africa relations

U.S. Treasury Secretary Janet Yellen is visiting Senegal with a message about the future of U.S.-Africa relations.

US Treasury buys time for Biden and GOP on debt limit deal

WASHINGTON (AP) โ€” The U.S.[San Marcos, TX] [Hays County news] News San Marcos News, San Marcos Record [Texas State]

sanmarcosrecord.com

Poll: As debt battle looms, 55% of Americans say GOP House is 'dysfunctional'

By a massive 30-point margin, Americans say Republicansโ€™ protracted battle earlier this month to elect a new House speaker is a sign that โ€œCongress is dysfunctionalโ€ (55%) rather than โ€œfunctioning as intendedโ€ (25%), according to a new Yahoo News/YouGov poll.

news.yahoo.com

Feds could exhaust "extraordinary measures" to avoid debt limit by July, report finds

Hitting "Date X" without raising the debt ceiling could lead the U.S. to default on its debt for the first time in its history.

cbsnews.com

U.S. hits its debt limit and now risks defaulting on its bills

The U.S. is undertaking "extraordinary" measures to avoid defaulting on its obligations after the country reached its debt limit on Thursday. Now, a big political fight looms.

npr.org

Debt ceiling: Here's what could happen if lawmakers don't raise the country's borrowing limit

The federal government caps the amount of money it can borrow. But what are the risks if Congress fails to lift the debt limit?

cbsnews.com

Yellen says Treasury is taking extraordinary measures to avoid default as U.S. hits debt limit

Yellen previously said she believes the U.S. government can keep paying its bills until at least early June by deploying extraordinary measures.

cnbc.com

As debt ceiling deadline looms, here's what it could mean for Social Security and Medicare

If debt ceiling negotiations are unsuccessful, the U.S. could default on its debt. Here's what that may mean for Social Security and Medicare.

cnbc.com

How Republicans Can Stop a Debt Limit Disaster

Mainstream conservatives first need to signal that they are ready to move on from empty symbolism.

washingtonpost.com

Here's why a high-stakes debt ceiling fight looms on Capitol Hill

House Republicans want to leverage must-pass legislation to raise the debt limit to extract federal spending cuts, but President Biden and congressional Democrats aren't interested in negotiating.

npr.org

MSNBC's Joy Reid says the GOP is committing 'economic terrorism:' 'We don't negotiate with terrorists'

MSNBC host Joy Reid accused Republicans of committing โ€œeconomic terrorismโ€ on Wednesday for promising not to raise the debt ceiling without significant spending cuts.

foxnews.com

Treasury Secretary Yellen and China's Liu He talk U.S. tech policy at their first in-person meeting

Chinese Vice Premier Liu He discussed U.S. tech policy toward China in a meeting with U.S. Treasury Secretary Janet Yellen, the Ministry of Commerce said.

cnbc.com

The Economist: Here We Go Again!

Congress should fix the debt ceiling once and for all โ€” but it wonโ€™t!As the Treasury Department defines it, the โ€œdebt limit is the total amount of money that the United States government is authorized[San Marcos, TX] [Hays County news] News San Marcos News, San Marcos Record [Texas State]

sanmarcosrecord.com

Republican Debt-Ceiling Madness Is About to Begin Again

Holding the debt limit hostage could have dire economic consequences for Americans.

newyorker.com

A debt ceiling standoff may trigger 'serious' fallout for Americans, warns economist. Here's what it means for you

The U.S. will likely hit its $31.4 trillion debt ceiling Thursday. A default could follow, would have far-reaching negative impacts for consumers and investors.

cnbc.com

4 ways around a debt ceiling crisis โ€” and why they might not work

From an obscure congressional maneuver to a trillion-dollar coin, there are many ideas out there to help the U.S. can avoid debt default but they are untested and have major potential problems

npr.org

US, Chinese officials discuss climate, economy, relationship

U_S_ Treasury Secretary Janet Yellen has met with her Chinese counterpart and pledged an effort to manage differences and โ€œprevent competition from becoming anything ever near conflict.โ€.

EXPLAINER: How ominous is the debt limit problem?

The U.S. government has run up against its legal borrowing capacity of $31.381 trillion, an artificially imposed debt limit that has been increased scores of times.

Stocks close mixed on Wall Street in uneven trading

Major U.S. indexes closed mixed on Wall Street at the beginning of a holiday-shortened, but earnings-heavy week.

Yellen to meet with Chinese counterpart in Switzerland day before US to hit debt ceiling

Treasury Secretary Yellen will be in Switzerland this week as the U.S. is expected to hit its debt limit Thursday, which will stop it from borrowing any more until Congress acts.

foxnews.com

Economic woes, war, climate change on tap for Davos meeting

The World Economic Forum is back with its first winter meetup since 2020 in the Swiss Alpine town of Davos.

Yellen to meet with Chinese finance minister in Switzerland

Treasury Secretary Janet Yellen is set to meet with her Chinese counterpart in Switzerland on Wednesday.

Yellen tells Congress US expected to hit debt limit Thursday

WASHINGTON (AP) โ€” Treasury Secretary Janet Yellen notified Congress on Friday that the U.S.[San Marcos, TX] [Hays County news] News San Marcos News, San Marcos Record [Texas State]

sanmarcosrecord.com

The U.S. could hit its debt ceiling within days. Here's what you need to know.

The U.S. is expected to hit its debt ceiling Thursday, forcing the Treasury to take "extraordinary measures" to pay off its bills. A political stalemate could lead to an unprecedented federal default.

npr.org

Yellen tells Congress US expected to hit debt limit Thursday

Treasury Secretary Janet Yellen has notified Congress that the U.S. is projected to reach its debt limit on Thursday and will then resort to โ€œextraordinary measuresโ€ to avoid default.

U.S. will hit its debt limit Thursday, start taking steps to avoid default, Yellen warns Congress

Treasury Secretary Janet Yellen wrote House Speaker Kevin McCarthy, "It is unlikely that cash and extraordinary measures will be exhausted before early June."

cnbc.com

US Treasury Secretary Janet Yellen traveling to Senegal, Zambia, South Africa

Janet Yellen is traveling to South Africa, Zambia, and Senegal to strengthen the relationship between the United States and Africa. President Biden will also travel to Africa this year.

foxnews.com

US to max out on debt soon, setting up political fight

The federal government is on track to max out on its $31.4 trillion borrowing authority as soon as this month.

U.S. slaps Iran with another round of sanctions over drones used in Russia's war on Ukraine

Treasury imposed sanctions on Iran's Qods Aviation Industries, the country's top defense manufacturer, for producing unmanned aerial vehicles.

cnbc.com

Sen. Warren warns Tesla chair that Musk and the board may have failed in legal duties since Musk bought Twitter

Warren asked the Tesla board about alleged misappropriation of Tesla resources and conflicts of interest resulting from Musk's purchase of Twitter.

cnbc.com

ICYMI: A look back at Sunday's 60 Minutes

Janet Yellen on recession fears, inflation and the war in Ukraine; Families suing social media companies; Cape Town's College of Magic.

cbsnews.com

Treasury Secretary Janet Yellen on recession fears, inflation and the war in Ukraine

The treasury secretary tells Norah O'Donnell how she thinks the economy will fare in the coming year and what her department is doing to end the war in Ukraine.

cbsnews.com

Sec. Janet Yellen sees U.S. economy improving and lower inflation on the horizon

The Treasury Secretary told 60 Minutes a risk of a recession remains, but she doesn't believe it's "necessary to bring inflation down."

cbsnews.com

Ex-FTX CEO Bankman-Fried says he will testify to Congress

The former CEO of the failed cryptocurrency exchange FTX says he is willing to testify to Congress next week.

Yellen, Malerba Become 1st Female Pair To Sign U.S. Currency

Treasury Sec. Janet Yellen and and Treasurer Lynn Malerba ceremonially signed fresh sheets of $1 and $5 bills to mark the history-making moment.

newsy.com

Yellen to unveil first U.S. currency with her signature

Janet Yellen is set to unveil the first U.S. currency bearing her signature, marking the first time that U.S. bank notes will bear the name of a female treasury secretary.

cbsnews.com

Yellen, Malerba become 1st female pair to sign US currency

Treasury Secretary Janet Yellen has helped mark a milestone in U.S. history by holding up a newly minted $5 bill signed for the first time ever by two women.

On the money: Yellen's next milestone is name on US currency

Faith in the U.S. dollar has often hinged in part on what Treasury Secretary Janet Yellen says. Yellen loops her capital โ€œJโ€ and โ€œY,โ€ with the rest of her name flowing in a haste that suggests handwriting might not have been the top priority for this pathbreaking economist.

news.yahoo.com

G-7 joins EU on $60-per-barrel price cap on Russian oil

The Group of Seven nations and Australia have joined the European Union in agreeing to a $60-per-barrel price cap on Russian oil.

GREG GUTFELD: Elon Musk is ticking off all the elite

Greg Gutfeld breaks down how Elon Musk upset the White House, Hollywood, Antifa and far-left Democrats in his pursuit for Twitter "free speech" on "Gutfeld!"

foxnews.com

SEAN HANNITY: The Biden White House has 'no plan' to fix anything

Sean Hannity examines how the White House has "no plan" to solve any of the issues facing America but still has ample excuses on crime, inflation and other major problems on "Hannity."

foxnews.com

EU Warns Musk To Beef Up Twitter Controls Ahead Of New Rules

The EU's commissioner for digital policy told Elon Musk Twitter will have to increase efforts to comply with new rules under the Digital Services Act.

newsy.com

EU warns Musk to beef up Twitter controls ahead of new rules

A top European Union official has warned Elon Musk that Twitter needs to beef up to protect users from hate speech, misinformation and other harmful content to avoid violating new rules.

Sen. Sherrod Brown calls on Treasury Secretary Janet Yellen to help rein in cryptocurrency firms after FTX collapse

Sen. Sherrod Brown, chair of the Senate Banking, Housing and Urban Affairs Committee, urged Treasury Secretary Janet Yellen's help after the FTX collapse.

cnbc.com

EXPLAINER: What's the effect of Russian oil price cap, ban?

The U.S., Europe and the Group of 7 democracies are poised to put a price cap on Russian oil exports to other countries.

Democratic senators urge regulators to monitor SoFi trading activity, expressing concern during crypto meltdown

A SoFi spokesperson said the company believes it has "been fully compliant with the mandates of our bank license and all applicable laws."

cnbc.com

Barbados spearheads push on climate disaster financing

As climate-amped disasters ratchet up the suffering, the staid international finance system designed for an earlier age may be on the brink of change, driven by those on the front lines.

House panel to hold hearing on crypto exchange FTX collapse

Lawmakers plan to investigate the failure of FTX, the large crypto exchange that collapsed last week and filed for bankruptcy protection, leaving investors and customers staring at losses that could total in the billions of dollars.

US sanctions firms over Iranian drone transfers to Russia

The U.S. is imposing sanctions on firms and entities accused of being involved in the transfer of Iranian drones to Russia for use in Vladimir Putinโ€™s ongoing invasion of Ukraine.

Ukraine, China-U.S. Frictions Dominate At G-20 Summit In Bali

The world's 20 largest economies are meeting in Indonesia as central banks fight decades-high inflation that's raising fears of a global recession.

newsy.com

Senate Banking Committee Chair Brown scrutinizes banking fees as consumers struggle with inflation

Witnesses highlighted oversight agency's activities to ensure fair banking standards for American consumers.

cnbc.com

Janet Yellen says FTX collapse shows cryptocurrencies are "riskyโ€ฆ even dangerous" investments

The Treasury chief told CBS News she expected inflation to ease thanks to a "resilient" U.S. economy, and said Biden's shift to EVs would become "less reliant on China."

cbsnews.com

US sanctions non-Russians linked to military suppliers

The U.S. says it's imposing sanctions on a list of people and firms around the globe that it alleged were involved in supporting Russia's military in its war on Ukraine.

Ukraine, China-US frictions dominate at G-20 summit in Bali

Discord over Russia's war on Ukraine and festering tensions between the U.S. and China are ominous backdrops for world leaders gathering in Indonesia's tropical Bali island for a summit of the Group of 20 biggest economies.

Biden names pick for new IRS head as agency plans for $80 billion funding, wrestles with backlog

President Joe Biden intends to nominate Danny Werfel to become the next IRS Commissioner, overseeing the plan for the agency's nearly $80 billion in funding.

cnbc.com

Yellen visits India to shore up US-Indo-Pacific partnership

Supply chains, Russiaโ€™s war in Ukraine and the impact of COVID-19 are top issues for U.S. Treasury Secretary Janet Yellen as she meets with Indian government and business leaders in New Delhi.

Biden nominates Daniel Werfel as IRS Commissioner

President Joe Biden has nominated a new commissioner to steer the IRS forward as it gets a massive funding boost.

CNN host jokes Americans will have to eat smaller portions this Thanksgiving due to inflation

CNN host Fredricka Whitfield quipped that Americans will have to reduce their portion sizes this Thanksgiving due to high inflation.

foxnews.com

Biden paints oil firms as war profiteers, talks windfall tax

President Joe Biden is raising the possibility of imposing a windfall tax on oil companies if they donโ€™t boost domestic production.

GOP seizes on voter hesitancy to attack EVs as costly to US

Many Republican candidates are seeking to capitalize on Americansโ€™ precarious financial situations heading into next weekโ€™s midterm elections to vilify a key component of President Joe Bidenโ€™s climate agenda: electric vehicles.

How Biden changed his tune on inflation as prices soared and the midterms loomed

At first, the White House said inflation would be a temporary issue. But it quickly became the top economic priority โ€” and major source of midterm political pain โ€” for President Biden.

npr.org

IRS: Growing gap between US income taxes owed and paid

The IRS says the amount of income tax money owed but not paid to the government is projected to grow.

Biden zeroes in on economic message as campaign winds down

President Joe Biden is focusing on economic issues as he fine-tunes his closing argument in upstate New York for voters trying to cope with raging inflation and fears of a recession heading into the Nov. 8 election.

TUCKER CARLSON: Media has done everything it can to minimize the economy and crime

Fox News host Tucker Carlson calls out soft-on-crime policies put forward by the Democratic Party ahead of the 2022 midterm elections on "Tucker Carlson Tonight."

foxnews.com

U.S. budget deficit cut in half for biggest decrease ever amid Covid spending declines

The U.S. budget deficit was sliced in half for fiscal 2022, the biggest drop in history following two years of huge Covid-related spending.

cnbc.com

Yellen boosting Biden's agenda in Virginia as midterms near

Treasury Secretary Janet Yellen is promoting Biden administration policies as the key to advancing the nationโ€™s โ€œlong-term economic well-beingโ€ in the lead-up to the midterm elections.

Why Breaking the QE Addiction Is Such a Struggle

Stop referring to โ€œunconventionalโ€ย policies. Bond buying is here to stay,ย even if everyoneย wants to emulateย Paul Volcker.

washingtonpost.com

The Fedโ€™s Next Crisis Is Brewing in US Treasuries

The central bank canโ€™t afford to let the worldโ€™s most important marketย seize up. It must act now to restore liquidity for Treasuries.

washingtonpost.com

Treasury's Yellen says Russia's war has weakened its economy 'for years to come'

Treasury Secretary Janet Yellen said sanctions the U.S., the E.U. and allies have levied against Russia have stunted the nation's growth prospects.

cnbc.com

China accuses US of 'Cold War thinking' in security strategy

The Chinese government has accused Washington of โ€œCold War thinking.โ€.

Yellen says US economy 'resilient' amid global headwinds

U_S_ Treasury Secretary Janet Yellen is seeking to project confidence in the U_S_ financial outlook while pledging vigilance in responding to โ€œrisks on the horizon.โ€.

IMF warns of higher recession risk and darker global outlook

The International Monetary Fund is once again lowering its projections for global economic growth in 2023.

Top US regulators say crypto poses financial stability risks

Top regulators are recommending a series of new safeguards to ensure that a growing and unregulated cryptocurrency market doesnโ€™t imperil U.S. financial stability.

Allies aim for risky Russian oil price cap as winter nears

U.S. officials celebrated at the start of September when top allies agreed to back an audacious, never-before-tried plan to clamp down on Vladimir Putinโ€™s access to cash.

Biden vows Russia won't 'get away with' Ukraine annexation

The United States and its allies are hitting back at Russiaโ€™s annexation of four more Ukrainian regions, slapping sanctions on more than 1,000 Russian individuals and companies.

Treasury moves forward with database on corporate ownership

Tens of millions of small U.S. companies will soon be required to submit details on their owners and others who benefit from them.

Harris, Yellen focus on community finance at Freedman Forum

Vice President Kamala Harris and Treasury Secretary Janet Yellen will host a forum to highlight how coronavirus pandemic relief dollars have helped support Black- and minority-owned businesses.

Yellen warns inaction on climate could cause economic crisis

Treasury Secretary Janet Yellen is warning of economic calamity if climate change is not addressed with immediate government intervention.

US Sen. Warnock: Electric car tax credit needs 'flexibility'

U.S. Sen. Raphael Warnock is urging the U.S. Treasury secretary to use โ€œflexibilityโ€ in defining how automakers and consumers qualify for a revised tax credit for Americans buying electric vehicles.

Yellen to visit North Carolina ahead of tight midterm races

Treasury Secretary Janet Yellen heads to the Durham, North Carolina, area next Tuesday as part of her ongoing national tour to promote the Biden administrationโ€™s legislative agenda ahead of midterm elections.

US sanctions Iranian morality police after woman's death

The U.S. government has imposed sanctions on Iranโ€™s morality police after the death in custody of a woman who'd been accused of wearing her Islamic headgear too loosely.

US has sent $8.28 billion in pandemic funds to local lenders

On the same day the Federal Reserve gave a sobering report on the U.S. economyโ€™s trajectory, administration officials highlighted how they have kept some of the nationโ€™s smallest businesses afloat through the pandemic.

Treasury recommends exploring creation of a digital dollar

The Biden administration is moving one step closer to developing a central bank digital currency, known as the digital dollar.

Yellen calls for modernized IRS at Maryland field office

Treasury Secretary Janet Yellen is laying out her vision for a modernized, responsive, tech-savvy tax collection agency equipped to manage 21st century challenges.

Biden order to sharpen foreign investment screening process

President Joe Biden is set to sign an executive order that aims to sharpen the national security considerations taken in the federal governmentโ€™s review process for foreign investment in the United States.

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