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Thursday, January 20, 2022

Yellen: Inflation Is ‘Temporary,’ It Will ‘Begin to Decline’ to ‘More Normal Level’ ‘By...

During an interview aired on Friday’s broadcast of CNN’s “Situation Room,” Treasury Secretary Janet Yellen said that she still thinks inflation is “temporary, although, I don’t mean just a matter of a month or two.” And “by the second half of the year, annual inflation rates will begin to decline toward their more normal level…

‘Get Out Of The Way’: Schumer Announces Third Debt Limit Vote

Hours after threatening the Senate’s October recess, Majority Leader Chuck Schumer announced a third vote to raise the debt ceiling and avert a federal default.“I will soon file cloture on the House-passed proposal to suspend the debt limit until December of 2022,” he said during Monday floor remarks. Republicans have twice blocked legislation that would…

Biden Administration Pushes Congress to Require Banks to Turn Account Info Over to IRS

The Biden administration is pressuring lawmakers to enact a controverisal plan requiring banks to turn over to the Internal Revenue Service detailed information about inflows and outflows of almost all American bank accounts. Treasury Secretary Janet Yellen and IRS Commissioner Charles Rettig sent letters to lawmakers this week asking Congress to include in tax hike…

House Lawmakers Set To Square Off With White House, Treasury Department Over ‘Stifling’ Crypto...

House lawmakers are set to consider a controversial and last-minute cryptocurrency tax provision that has been criticized as vague, expansive, and potentially unworkable, with many fearing it could stifle the industry and force companies to collect personal information on their customers. The provision has the backing of the Biden administration. Treasury Secretary Janet Yellen personally…

Biden Administration Won’t Push Pandemic Unemployment Bonus Extension

The Biden administration signaled to Capitol Hill lawmakers Thursday that it will not support an extension of pandemic-related unemployment benefits. President Joe Biden won’t advocate for an extension of the $300 unemployment bonus given to millions of out-of-work Americans on a weekly basis, Treasury Secretary Janet Yellen and Labor Secretary Marty Walsh wrote in a…
biden-and-harris-are-sinking-in-the-polls-especially-harris.-[video]

Biden and Harris are sinking in the polls. Especially Harris. [Video]

This is not tremendously new information, but the accompanying video shows an interesting trend about Kamala Harris in the weekly poll numbers. She has lost a great deal of favorability. Below are screen grabs showing approval polls for each week since she was installed in her post as “Vice President”. Note the trend: The movement…
yellen-sees-‘several-more-months-of-rapid-inflation’-—-worries-about-housing-impact

Yellen Sees ‘Several More Months of Rapid Inflation’ — Worries About Housing Impact

Treasury Secretary Janet Yellen said Thursday on CNBC’s “Closing Bell” that the U.S. economy will have “several more months of rapid inflation.” Yellen said, “We will have several more months of rapid inflation. So I’m not saying that this is a one-month phenomenon. But I think over the medium term, we’ll see inflation decline back toward…
china-explores-possible-exemptions-from-global-minimum-tax

China Explores Possible Exemptions From Global Minimum Tax

China has expressed concerns over a new global minimum corporate tax to be discussed at the G7 summit this weekend, sparking talks about possible exemptions. The Group of Seven (G7) economies announced plans last week to support a 15% global minimum corporate tax designed to prevent companies from incorporating offshore and denying countries tax revenue. China, who…
treasury-secretary-yellen-says-higher-interest-rates-would-be-good-for-the-country

Treasury Secretary Yellen Says Higher Interest Rates Would Be Good For The Country

Treasury Secretary Janet Yellen said President Joe Biden should push forward with his $4 trillion spending plans even if they generate inflation that forces the Fed to hike interest rates. “If we ended up with a slightly higher interest rate environment it would actually be a plus for society’s point of view and the Fed’s…
private-companies-will-have-to-pay-for-most-of-the-‘green-transition,’-biden-administration-says

Private Companies Will Have To Pay For Most Of The ‘Green Transition,’ Biden Administration...

The private sector will shoulder the costs associated with transforming the U.S. economy into a “green” economy, Treasury Secretary Janet Yellen said Wednesday. While the federal government plans to provide funds through direct investments and tax credits, private companies will be expected to pay for most of the estimated $2.5 trillion needed over the course…

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