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Top related persons:
Deirdre K - 1 Dunn - 1 Colin Teichholtz - 1
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Treasury Department - 1 Treasury - 1 Stock - 1 Federal Reserve - 1

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2 mentions found


☆ Treasury details plans to step up size of bond sales to manage growing debt load and higher rates
  + stars: | 2023-11-01 | by ( Jeff Cox | ) www.cnbc.com   time to read: +3 min
The Treasury Department announced plans Wednesday to accelerate the size of its auctions as it looks to handle its heavy debt load and with financing costs rising. The announcement comes with Treasury yields around their highest levels since 2007, a reflection of financial markets spooked over how much damage higher borrowing costs could exact. From there, the department said it will increase the auction size of various maturities, focusing more on coupon-bearing notes and bonds. By the end of January, the auction sizes will show respective increases of $9 billion, $6 billion, $9 billion and $3 billion. Stock market futures came off their lows of the morning following the announcement, while Treasury yields were lower.
Persons: Deirdre K, Dunn, Colin Teichholtz Organizations: Treasury Department, Treasury, Stock, Federal Reserve Locations: Wall
☆ These states are raising their minimum wages in 2023. Chart shows where workers can expect higher pay
  + stars: | 2023-01-01 | by ( Lorie Konish | ) www.cnbc.com   time to read: +3 min
Meanwhile, 23 states and Washington, D.C., according to the Economic Policy Institute, will implement higher minimum wages on Jan. 1. States that are not seeing minimum wage hikes in 2023 still tie their base pay to the $7.25 per hour federal rate. Workers who depend on the minimum wage are also much more likely to be people of color and living in poverty. Raising minimum wages can also help increase consumer demand and put money back into local economies, said Holly Sklar, CEO of Business for a Fair Minimum Wage, a national network of business organizations, owners and executives that support higher minimum wages. "Putting needed raises in minimum wage workers' pockets [is] really the most efficient way you can boost the economy," Sklar said.
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