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US default could be 'catastrophic': Treasury The US Treasury warned Thursday of a disastrous outcome if Congress's refusal to raise the country's borrowing ceiling forces it to default on obligations.

04 October 2013

US bailout 5 years ago avoided catastrophe: Treasury The US Treasury said Wednesday the government's massive response to the economic crisis five years ago paid off, avoiding a catastrophic breakdown of the financial system.

12 September 2013

US to hit debt ceiling in mid-October: Treasury The US will hit its statutory debt ceiling in mid-October, raising the chance that the government will be forced to default on its debts.

27 August 2013

US Treasury implements measure to avoid new debt The US Treasury Friday stopped re-investing in a retirement fund, a major step in its efforts to avoid exceeding the debt ceiling.

02 June 2013

US Treasury chief not worried about market bubble US Treasury Secretary Jacob Lew said Thursday that he was not worried about a potential financial bubble forming as Wall Street stocks racked up record highs.

16 March 2013

Republicans reject 'ridiculous' Obama fiscal cliff proposal Republicans rejected as "ridiculous" Thursday a White House plan to raise $1.6 trillion in new taxes over the next decade, as crunch talks on the US deficit took a turn for the worse.

30 November 2012

US not ready for Basel III bank rules: Treasury The US Treasury announced Friday that it would not implement the Basel III rules for strengthening banks on January 1, saying the banks were not yet ready to meet the tougher capital standards.

10 November 2012

World economy needs action from China, EU: Geithner US Treasury Secretary Timothy Geithner said Saturday the global economy was on the mend, but more needed to be done to stoke domestic demand in China and fix Europe's fiscal woes.

14 October 2012

US Treasury to sell $18 bn of AIG stock The US Treasury Department announced Sunday that it has launched a public offering of $18 billion of its common stock in AIG, the giant insurer bailed out by the US government.

10 September 2012

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