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Search resuls for: "Cnn'S Krystal Hur"


3 mentions found


☆ Live updates: Markets prep for a busy day with banking testimony, housing data and retail sales
  + stars: | 2023-05-16 | by ( Cnn'S Krystal Hur | Bryan Mena | Allison Morrow | ) edition.cnn.com   time to read: +2 min
U.S. Treasury Secretary Janet Yellen during a news conference at the Treasury Department in Washington on April 11. (Elizabeth Frantz/Reuters)It’s still likely that the US could default on its obligations early next month – possibly as soon as June 1 – if Congress doesn’t act, Treasury Secretary Janet Yellen reiterated Monday. President Joe Biden is expected to meet again on Tuesday with House Speaker Kevin McCarthy and other top congressional leaders. Still, the actual date could be a number of days or weeks later, depending on how much revenue the federal government collects and how much it has to pay out in coming weeks, Yellen said. Yellen once again urged Congress to act as soon as possible, noting that Treasury’s borrowing costs have increased substantially for securities maturing in early June.
☆ Live updates: Markets await Fed rate decision amid banking turmoil
  + stars: | 2023-05-03 | by ( Cnn'S Krystal Hur | Bryan Mena | Alicia Wallace | ) edition.cnn.com   time to read: +2 min
While a debt default doesn't mean all payments would stop, it could unleash economic and fiscal chaos around the world:Financial marketsAmericans' investments would take a direct hit. That's on top of the increased costs Americans are already facing from the Fed's rate hikes. That's because their costs of borrowing money will also rise, which limits the amount of money they can lend out. The economyA debt default could trigger an economic downturn, which would prompt a spike in unemployment. But if the impasse dragged on for six weeks, then more than 7 million jobs would be lost and the unemployment rate would soar above 8%.
☆ Live updates: Banks face regulation crackdown after crisis
  + stars: | 2023-03-28 | by ( Cnn'S Krystal Hur | Nicole Goodkind | Allison Morrow | ) edition.cnn.com   time to read: +2 min
A pedestrian walks past the Federal Reserve Headquarters on March 21 in Washington, DC. Daines also accused the Federal Reserve Bank of San Francisco of prioritizing addressing climate change over the risks presented by higher interest rates. In an interview with Montana Public Radio in 2014, Daines said that "the jury’s still out" on whether climate change is real. These responsibilities are tightly linked to our responsibilities for bank supervision. The public reasonably expects supervisors to require that banks understand, and appropriately manage, their material risks, including the financial risks of climate change.”
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