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Yellen, testifying at a Senate subcommittee on the Biden administration's budget proposal, said the economy has been on a "bumpy path" during its reopening after months of restrictions to combat the spread of COVID-19. Asked by Republican Senator John Kennedy if she thought inflation would keep increasing at the 5% year-over-year rate seen last month, Yellen said she thought it would be closer to 2% by late this year or early 2022. She also said most measures of inflation expectations beyond the next year show it returning closer to that 2% level, which is the level targeted by the Federal Reserve.
U.S. Treasury Secretary Janet Yellen on Wednesday warned Congress that the United States risks a debt default and a new financial crisis as soon as August if lawmakers fail to act quickly to suspend or raise the federal borrowing limit. In testimony to a Senate Appropriations subcommittee, Yellen said defaulting on U.S. debt obligations would be "unthinkable" and "would have absolutely catastrophic economic consequences." Yellen said that to avoid uncertainty for financial markets, Congress should pass new debt limit legislation - allowing the Treasury to continue borrowing - before the latest suspension expires on July 31.
Bed Bath & Beyond's new eclectic home line, Wild Sage, features tie dye prints, brass accents and velvet textures. The post Bed Bath & Beyond’s new eclectic home line is a bohemian dream appeared first on In The Know.
The Three Lions qualified from Group D and will now play in the knock-out stages of Euro 2020
Portugal and France face off in another huge Group F clash this evening as the reigning holers take on the world champions in the final night of group game action at Euro 2020. France beat Germany in their opening game of the tournament, but a surprise 1-1 draw with Hungary leaves Les Bleus with work to do - even if four points will take them through as one of the four best third-placed teams at the very least. As for Portugal, they left it late to beat Hungary 3-0 to start strongly, but a humbling 4-2 loss to Germany has severely hit confidence ahead of taking on the tournament favourites.
Ronaldo opened the scoring with a first-half penalty and then earned a point with a second spot-kick after Karim Benzema’s strikes either side of half-time had seen the French come from behind to lead. Ronaldo’s goals - the 108th and 109th of his Portugal career - saw the Juventus star draw level with Ali Daei’s all-time international goalscoring record and took his tally for the tournament to five. The result means France top Group F and will face Switzerland in the last-16, while Portugal finish as one of the four best third-placed teams and now face a tough tie against Belgium.
Old rivals will clash next Tuesday in the first knockout round
Allstate Corp wants to buy more independent insurance agencies this year to build the business it acquired with its purchase of National General, Allstate Chief Executive Tom Wilson told Reuters on Wednesday. But the agents will be there to talk to customers in depth, not punch data into a computer to get a quote, Wilson said at the Reuters Future of Insurance U.S.A. 2021 conference. Allstate's strategy is to supply agents with customer data via computer to enable "a real conversation," he said.
The knockout rounds begin on Saturday and the champion will be crowned on July 10.
Interior Department to issue recommendations this summer, after president pledged to ban ‘new oil and gas permitting on public lands and waters’ during campaign
San Jose Sharks Jonathan Becher joined Yahoo Finance to discuss why his franchise will be accepting cryptocurrency next season.
The United States on Wednesday restricted exports to five Chinese companies that it said were implicated in Chinese human rights violations, including large producers of polysilicon for the solar panel industry. At least some of the companies are major manufacturers of monocrystalline silicon and polysilicon that are used in solar panel production.
5 people were taken to the hospital when a pedestrian bridge collapsed over a highway in the nation’s capital, expecting to snarl traffic for hours. The accident happened just before noon on Wednesday along Interstate 295 in Northeast Washington. (June 23)
The tournament gets into the knockout stage once the groups games are over
(Bloomberg) -- Treasury Secretary Janet Yellen said her department may exhaust emergency measures to avoid breaching the U.S. debt limit as soon as August unless Congress acts to avert a potential default that would be “catastrophic.”“Defaulting on the national debt should be regarded as unthinkable,” Yellen said Wednesday before a Senate Appropriations subcommittee hearing on her department’s budget.“Failing to increase the debt limit would have absolutely catastrophic economic consequences,” s
At least 12 hospitals had concerns over delivering oxygen to patients during the Covid-19 pandemic, a safety watchdog has warned. A new report, published by the Healthcare Safety Investigation branch (HSIB) , stated “excessive” demands on oxygen delivery systems in hospitals during the pandemic’s second wave led to a “major disruption”, forcing patients to be diverted to other hospitals and elective surgery being cancelled during the autumn of 2020. It added the issues were with the ability of the medical gas pipeline systems (MGPS) delivering the amount of oxygen patients needed, rather than access to the supply of oxygen.
(Bloomberg) -- U.S. public-health leaders sought to reassure Americans that Covid-19 shots are safe after reports that a relatively small number of mostly young men had suffered a heart problem after being immunized.A new study released Wednesday found that an estimated 20 million individuals in the U.S. were likely infected with Covid-19 by mid-July of last year, about 17 million more than previously thought. New York City will begin offering free at-home vaccinations to anyone who wants one.Pr
Image published minutes after news reports detailing his death
The Three Lions have a last 16 date at Wembley
Germany are on the verge of booking their place in the last-16 of Euro 2020 as Hungary travel to Munich for what will be a charged final Group F encounter. Die Nationalmannschaft lost their opening game 1-0 to France and looked in real trouble after going a goal down to Portugal, but Joachim Low’s team rallied brilliantly to win that match 4-2.