The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has amended the Cuban Assets Control Regulations (CACR) to further support the Cuban people and independent private sector entrepreneurs. This move aligns with the policy announced by the Biden-Harris Administration on May 16, 2022. The regulatory amendments will take effect upon publication in the Federal Register on May 28, 2024.
The Federal Reserve Bank of New York has announced the results of the High School Fed Challenge, an academic competition where student teams research and analyze an economic theme, subsequently crafting podcast scripts that encapsulate their findings. The selected scripts will be published in this year's Journal of Future Economists, set for release this summer.
Deputy Secretary of the Treasury Wally Adeyemo recently delivered remarks at the Vice President’s Economic Opportunity Tour Event in Milwaukee, Wisconsin. He began by expressing his gratitude for the warm introduction and acknowledging the presence of Acting Secretary Adrianne Todman and Vice President Kamala Harris.
KYIV – Deputy Secretary Adeyemo met today with faculty and students from the Kyiv School of Economics, along with select non-governmental organizations. The group engaged in a discussion focused on supporting Ukraine’s economic recovery. Key topics included unlocking the value of immobilized Russian sovereign assets, Russia’s transition to a wartime economy, and measures to restrict Russia's revenue and disrupt its procurement of priority goods.
On May 16, 2024, the U.S. Department of the Treasury released its first Non-fungible Token (NFT) Illicit Finance Risk Assessment. The report examines how vulnerabilities associated with NFTs and NFT platforms may be exploited by illicit actors for money laundering, terrorist financing, and proliferation financing.
On behalf of U.S. Treasury Secretary Janet Yellen, I would like to thank the Government and people of Armenia for generously hosting the 2024 EBRD Annual Meetings of the Board of Governors. President Odile Renaud-Basso has steered the EBRD successfully over the past year through successful capital increase negotiations—on the heels of the Bank’s first-mover, quick and effective support to Ukraine—and the historic resolution on the Bank’s incremental expansion to sub-Saharan Africa and Iraq.
KYIV – Today, Deputy Secretary of the Treasury Wally Adeyemo met with Finance Minister of Ukraine Sergii Marchenko in Kyiv. Deputy Secretary Adeyemo and Finance Minister Marchenko discussed Ukraine’s economic outlook and the efforts of Ukraine’s Finance Ministry in mobilizing domestic and international support to help maintain essential services for the people of Ukraine and finance its defense against Russia. The Deputy Secretary also encouraged the Government of Ukraine to maintain momentum on its reform agenda. The Deputy Secretary and Finance Minister also discussed...
Secretary of the Treasury Janet L. Yellen addressed a roundtable with CEOs of German banks in Frankfurt, Germany, on May 16, 2024. In her remarks, she highlighted the resilience of the global economy despite challenging geopolitical conditions and noted that financial conditions have improved since last year's banking sector turmoil.
KYIV – Today, Deputy Secretary Adeyemo met with young professionals, entrepreneurs, and activists working to resist Russia’s invasion and secure a better economic future for Ukraine. The Deputy Secretary heard directly from Ukrainian citizens about their perspectives on Ukraine’s future and the efforts they are undertaking to support their country. Deputy Secretary Adeyemo also observed how small businesses are adapting to contribute to Ukraine’s war effort.
Under Secretary for Domestic Finance Nellie Liang addressed the Central Bank of Ireland Conference on Macroprudential Policy for Investment Funds, discussing the increasing significance of non-bank financial intermediaries and their potential systemic risks.
On May 16, 2024, Under Secretary of the Treasury for International Affairs Jay Shambaugh held a meeting with Argentina’s Chief of Cabinet Nicolás Posse and Foreign Minister Diana Mondino. The Argentine delegation was also accompanied by Ambassador Gerardo Werthein.
On May 16, 2024, Secretary of the Treasury Janet L. Yellen delivered remarks on high-integrity voluntary carbon markets (VCMs) at an event hosted by Bloomberg Philanthropies, the Center for Climate and Energy Solutions, and the Environmental Defense Fund.
KYIV – Deputy Secretary Adeyemo met with key members of the Verkhovna Rada during his visit to Kyiv. The discussions focused on ongoing efforts by the international coalition to provide Ukraine with necessary resources for defense, including mobilizing over $85 billion in budget support from the United States and international partners, as well as more than $24 billion in early recovery and reconstruction assistance.
Carlyle (NASDAQ: CG) announced today that its Chief Executive Officer, Harvey Schwartz, is scheduled to present at Bernstein’s 40th Annual Strategic Decisions Conference. The event will take place in New York on Thursday, May 30, 2024, at approximately 9:00 AM EDT.
In a recent interview with The Wall Street Journal, President Loretta Mester of the Federal Reserve Bank of Cleveland expressed that the Federal Reserve is in a "really good place" to study the economy before determining the path for interest rates. She further stated that she isn't eager to consider interest-rate hikes at this time.
The Federal Reserve Bank of Cleveland is set to host an informative event titled "Assessing the Safety and Soundness of Banks: How the Cleveland Fed Supervises Financial Institutions" on Tuesday, May 14, 2024. The event aims to shed light on the crucial role played by financial regulators in ensuring the stability of the financial system.The event will feature panelists from the Supervision, Credit Risk, and Statistics function of the Federal Reserve Bank of Cleveland. Attendees will have the opportunity to learn about the Federal Reserve's supervision role, particularly...
The Federal Reserve Bank of Cleveland and its Center for Inflation Research will be hosting a session titled “Challenges and Opportunities for Central Bank Communications” on Monday, May 13, 2024, from 4:30 to 5:30 pm EDT. The event will be held virtually.In a statement, the organizers highlighted the importance of their work, stating, "We produce indicators and datasets to inform the public, policymakers, and researchers about economic conditions, including inflation, employment, and risks to the financial system." They emphasized that their research aims to benefit...
The Federal Reserve Bank of New York’s Center for Microeconomic Data has released the April 2024 Survey of Consumer Expectations. The survey indicates that short-term and long-term inflation expectations have risen, while medium-term expectations have decreased. Home price growth expectations have reached their highest level since July 2022, and spending growth expectations have also increased.
