Category Archives: U.S. Treasury

As prepared for delivery Glasgow and COP26 is a pivotal moment at the start of this decisive decade of climate action. The climate crisis is already here.  This is not a challenge for future generations, but one we must confront today. Rising to this challenge will require the wholesale transformation of our carbon-intensive economies.  It’s […]

Thank you, Professor Duffie, for allowing me to speak here today and talk with you about the new report on stablecoins by the President’s Working Group on Financial Markets (PWG).   The PWG, which includes Treasury, the Federal Reserve Board, the SEC, and the CFTC, was created to strengthen U.S. financial markets.  Secretary Yellen convened […]

The U.S. economy grew rapidly during the first half of this year, bringing the level of real GDP above the pre-pandemic level by the second quarter.  However, the pace of real GDP growth slowed in the third quarter, in large part due to supply-side disruptions that have been exacerbated by the persistence of the pandemic.  […]

Stablecoins are digital assets that are designed to maintain a stable value relative to a national currency or other reference assets. Today, stablecoins are primarily used in the United States to facilitate trading, lending, or borrowing of other digital assets, predominantly on or through digital asset trading platforms. Proponents believe stablecoins could become widely used […]

Report Outlines Regulatory Framework for Stablecoins and Pathways to Address Risks WASHINGTON — Today, the President’s Working Group on Financial Markets (PWG), joined by the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC), released a report on stablecoins.  Stablecoins are a type of digital asset generally designed to maintain a […]

Minister Donohoe: Thank you very much. Good morning. I want to begin my comments by warmly welcoming on behalf of the government. Secretary Yellen, on what is her first visit to Ireland, since she was appointed as the US Treasury Secretary in January of this year. This visits by Secretary Yellen provides an opportunity for […]

As prepared for delivery I want to thank the American Chamber of Commerce Ireland, for hosting us, and of course, I want to thank Minister Donohoe, for your warm introduction – and, more than that, for your friendship and honest counsel over the past ten months. As with administrations before it, the Biden-Harris Administration is […]

As prepared for delivery I am delighted to be here in Ireland, my first visit to the country as the United States Treasury Secretary. This is a special visit for me, highlighting the strong bond our two countries continue to share. A bond built on strong economic and cultural ties. A bond the United States […]

ROME — Secretary of the Treasury Janet L. Yellen released the following statement on the historic endorsement of the global minimum tax by G20 countries: “Today, every G20 head of state endorsed an historic agreement on new international tax rules, including a global minimum tax that will end the damaging race to the bottom on […]