US economic strength rests on trust in the dollar. A debt-ceiling breach would destroy that, Yellen said, with big implications for every country.

Omarova previously served under President George W. Bush's administration as a special adviser for regulatory policy in the Treasury Department.

The White House is closing an option to defuse a showdown in Congress over paying America's bills, with the GOP refusing to budge.

Congress has just weeks to avoid a "catastrophic default" on its debt, JPMorgan's David Kelly said. Lawmakers are squabbling over an agreement.

Rich Americans know the government likely won't catch their antics, Treasury said. Beefing up IRS enforcement could bring in $1.6 trillion in unpaid taxes.

In the month after Biden first extended the eviction ban at the end of June, states only dispersed 5% more of the money. They have two months left.

Top Biden officials confirmed unemployment benefits won't be extended beyond Labor Day, but they encourage states to extend them using stimulus.

Afghanistan's acting central-bank chief said the population could soon be facing strong inflation that would hit the poor.

Republicans are balking at raising the debt ceiling, as they did under Obama. Yellen is using "extraordinary measures" in the meantime.

McConnell threatened this week to not support raising the debt ceiling. Democratic Sen. Brian Schatz told Insider, "We will not negotiate over it."

The only thing holding back the expiration of a national eviction moratorium is COVID. But people are getting evicted anyway in low-vaccine areas.

Michael Hsu said in an interview that US officials are increasingly keen on regulating cryptocurrencies, such as bitcoin, more closely.

The bill introduced by Sen. Elizabeth Warren would help close the tax gap by boosting the annual IRS budget from $11.9 billion to $31.5 billion.

The Treasury Department released new proposals to strengthen IRS enforcement, including doubling staffers to help combat tax evasion.

The federal judge who temporarily kept the CDC's eviction ban in place cited the spread of COVID-19, but she warned it won't last too much longer.

Treasury showed not just a record deficit over seven months, but also record tax receipts of $2.1 trillion and personal spending of $4.1 trillion.

The comments contrast with the Federal Reserve's outlook, which sees rates near zero through 2023 amid "transitory" bouts of stronger inflation.