janetyellen
Sen. Joe Manchin (D-West Virginia) urged Democrats to negotiate with House Republicans in the battle over the national debt ceiling. He said not dealing with Republicans would be a “mistake.” The U.S. federal government reached the self-imposed national debt ceiling last Thursday, putting the nation’s ability to pay its bills into question. In a letter, Treasury Secretary Janet Yellen warned House members that defaulting on loans could be catastrophic for the world economy. Since then, House Republicans and the White House have been in a stare-down. Republicans have asked for federal spending ...
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Alabama Gov. Kay Ivey (R-Alabama) responded to criticism of her choice to use federal COVID-19 relief funds to build new prisons. In a letter, Rep. Jerry Nadler (D-New York) wrote to Treasury Secretary Janet Yellen about the issue. “Directing funding meant to protect our citizens from a pandemic to fuel mass incarceration is, in direct contravention of the intended purposes of the ARP legislation and will particularly harm communities of color who are already disproportionately impacted by our over-incarceration and this public health crisis,” Nadler said. Ivey responded to Nadler on Twitter: ...
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Treasury Secretary Janet Yellen met with the G7 leaders last week and scored a long-sought achievement: she reached an agreement with the finance ministers from the G7 on a global minimum corporate tax. Part of that deal was intended to garner support for corporate increases for which the Biden administration has championed. The idea is to have companies pay a minimum of 15 percent on income, regardless of their locations. But as Yellen headed home to the U.S. over the weekend, she acknowledged that she might encounter a challenge when speaking to Republican lawmakers. Ever since the Biden ad...
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Treasury Secretary Janet Yellen thinks that President Joe Biden‘s $1.9 trillion relief plan could allow for economic growth that would lead to full U.S. employment by 2022. “We’re in a deep hole with respect to the job market and a long way to dig out,” she told CBS Sunday. Republicans have been quick to attack the Biden plan slamming its high price. Citing Larry Summers, a secretary of treasury under Bill Clinton, Republicans say that the massive Biden proposal could trigger increased inflation in the U.S. Yellen, however, insisted that the recession caused by the COVID-19 pandemic and the jo...
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