Yellen Says Yes To Raising The Debt CeilingThe nation’s debt ceiling has been caught in the middle of a dangerous game within Congress as finger-pointing threatens to derail the economies of both the country and the world. The current debt ceiling, which allows the government to borrow money to cover its financial obligations, is imminently close to expiring. She left the position to serve as vice chairwoman of the Federal Reserve, the nation’s central banking system, from 2010 to 2014. Yellen’s time as the head of the Federal Reserve ended when now-chairman Jerome Powell, appointed by former President Donald Trump in 2018, replaced her. Towards the end of her tenure at the Federal Reserve, Yellen laid down one of the most severe penalties ever on Wells Fargo for opening millions of accounts that customers didn’t want.

Source: Forbes September 23, 2021 22:04 UTC