What would happen if Congress doesn't raise the debt ceiling and the U.S. defaults on its debt later this month? The broad economic implications are unpredictable, but a default could cause huge trouble for the global economy.
But whatever happens to the global economy, one thing is clear: People all over the world who have loaned the U.S. government money won't get paid on time.
Originally published on Wed October 9, 2013 8:10 pm
Janet Yellen got the official nod from President Obama Wednesday afternoon for the Fed's top spot. If Yellen's nomination is confirmed by the Senate, she'll be the first woman to head the Federal Reserve System and the most powerful central banker in the world.
But since she would be the first woman to get the job, just what exactly would her title be? Chair? Chairman? Chairwoman?
Yellen would replace Ben Bernanke, whose official salutation is chairman of the Board of Governors of the Federal Reserve System.
Are House Republicans still seeking Democratic concessions on the Affordable Care Act? Or have they switched their sights to even bigger targets: federal spending on entitlements like Medicare and Social Security?
The answer on Wednesday depended on which Republican you asked.
Janet Yellen is President Obama's choice to replace Ben Bernanke at the Federal Reserve. The announcement came Wednesday afternoon. If confirmed by the Senate, Yellen will be the first woman to lead the Fed.
For a view of the partial government shutdown across the country, Melissa Block talks to Felice Belman, opinion editor of the Concord Monitor in Concord, N.H.; Patrick Malone, political reporter for The Coloadoan based in Fort Collins, Colo.; and Brian Pearson, managing editor of the Tyler Morning Telegraph in Tyler, Texas.