Treasury’s Janet Yellen Is Being Tested by Debt Limit Fight

The Treasury secretary must wade into a standoff between Democrats and Republicans over raising the debt limit.

#bipartisan-policy-center, #budgets-and-budgeting, #national-debt-us, #treasury-department, #united-states-economy, #united-states-politics-and-government, #yellen-janet-l

Fed Officials’ Trading Draws Outcry, and Fuels Calls for Accountability

Central bank regional presidents traded securities in markets in which Fed choices mattered in 2020. Here’s why critics find that troubling.

#banking-and-financial-institutions, #coronavirus-2019-ncov, #ethics-and-official-misconduct, #federal-reserve-bank-of-boston, #federal-reserve-bank-of-new-york, #federal-reserve-system, #powell-jerome-h, #quarles-randal-k, #rosengren-eric-s, #stocks-and-bonds, #williams-john-c, #yellen-janet-l

Crypto’s Rapid Move Into Banking Elicits Alarm in Washington

The boom in companies offering cryptocurrency loans and high-yield deposit accounts is disrupting the banking industry and leaving regulators scrambling to catch up.

#andreessen-horowitz, #banking-and-financial-institutions, #blockfi-inc, #coinbase-inc, #federal-reserve-system, #gensler-gary-s, #powell-jerome-h, #regulation-and-deregulation-of-industry, #securities-and-exchange-commission, #treasury-department, #virtual-currency, #warren-elizabeth, #yellen-janet-l

I.M.F. Will Block Afghanistan From Getting Reserve Funds

The International Monetary Fund, which was set to release the funds next week, cited the “lack of clarity” over recognition of the Taliban as the country’s legitimate government.

#afghanistan-war-2001, #federal-reserve-bank-of-new-york, #international-monetary-fund, #international-trade-and-world-market, #politics-and-government, #taliban, #treasury-department, #united-states-international-relations, #yellen-janet-l

Janet Yellen Gets a Chance to Shape the Fed, This Time From Outside

As Jerome H. Powell nears the end of his term as Federal Reserve chair, Ms. Yellen will have a say over whether he should stay on. Many progressive Democrats want him replaced.

#appointments-and-executive-changes, #banking-and-financial-institutions, #brainard-lael, #federal-reserve-system, #powell-jerome-h, #treasury-department, #united-states-economy, #united-states-politics-and-government, #yellen-janet-l

Global Tax Overhaul Gains Steam as G20 Backs New Levies

The approach marks a reversal of years of economic policies that embraced low taxes as a way for countries to attract investment and fuel growth.

#corporate-taxes, #corporations, #europe, #european-union, #federal-taxes-us, #foreign-investments, #group-of-twenty, #organization-for-economic-cooperation-and-development, #tax-shelters, #taxation, #united-states-economy, #united-states-international-relations, #united-states-politics-and-government, #yellen-janet-l

I.M.F. Board Backs $650 Billion Aid Plan to Help Poor Countries

The expansion of emergency reserves to fund vaccines and pay down debt has emerged as a political flash point in the United States.

#coronavirus-2019-ncov, #georgieva-kristalina-ivanova, #group-of-twenty, #international-monetary-fund, #third-world-and-developing-countries, #united-states-economy, #vaccination-and-immunization, #yellen-janet-l

Finance Ministers Meet in Venice to Finalize Global Tax Agreement

The G20 gathering begins a crucial stretch in yearslong negotiations.

#amazon-com-inc, #biden-joseph-r-jr, #corporate-taxes, #federal-taxes-us, #group-of-twenty, #international-trade-and-world-market, #organization-for-economic-cooperation-and-development, #tax-shelters, #united-states-economy, #venice-italy, #yellen-janet-l

Biden’s Push for Equity in Government Hits Legal and Political Roadblocks

No part of President Biden’s agenda has been as ambitious as his attempt to place concerns about equity squarely at the center of the federal government’s decision-making

#adeyemo-adewale, #agriculture-and-farming, #american-rescue-plan-2021, #biden-joseph-r-jr, #discrimination, #miller-stephen-1985, #race-and-ethnicity, #sperling-gene, #suits-and-litigation-civil, #trump-donald-j, #united-states-economy, #yellen-janet-l

Yellen’s New Alliance Against Leprechauns

Is the world finally ready to take on tax havens?

#apple-inc, #corporate-taxes, #corporations, #european-commission, #ireland, #tax-shelters, #taxation, #yellen-janet-l

Yellen Won a Global Tax Deal. Now She Must Sell It to Congress.

The Treasury secretary worked with finance ministers from the G7 to win support for a global minimum tax. But selling the idea to Republican lawmakers will not be easy.

#american-jobs-plan-2021, #american-rescue-plan-2021, #corporate-taxes, #federal-taxes-us, #labor-and-jobs, #united-states-economy, #united-states-politics-and-government, #yellen-janet-l

Global Tax Deal Reached Among G7 Nations

The Group of 7 nations reached an agreement over a global minimum tax that companies would pay regardless of where they are based.

#coronavirus-2019-ncov, #corporate-taxes, #federal-taxes-us, #group-of-seven, #tax-evasion, #united-states-economy, #yellen-janet-l

Global Finance Leaders Start Talks for Tax Overhaul

The overhaul under discussion includes a minimum tax that companies would pay regardless of where their headquarters were.

#corporate-taxes, #federal-taxes-us, #group-of-seven, #politics-and-government, #tax-shelters, #yellen-janet-l

Yellen Aims to Win Support for Global Tax Deal

The Biden administration is trying to persuade other nations to approve a global minimum tax as it works to curb profit shifting and raise corporate taxes in the United States.

#corporate-taxes, #europe, #great-britain, #taxation, #united-states-economy, #yellen-janet-l

Biden’s Budget Sees Low Inflation, Rising Debt and Slow Economic Growth

The proposal sheds new light on President Biden’s economic agenda and underscores the administration’s belief that the country’s fiscal situation is manageable.

#american-rescue-plan-2021, #biden-joseph-r-jr, #federal-budget-us, #gross-domestic-product, #inflation-economics, #taxation, #united-states-economy, #united-states-politics-and-government, #yellen-janet-l

Biden Tells Officials to Prepare for Climate Change’s Impact on Economy

A warming planet holds potential risks for home prices, investments, banking and other aspects of the global economy, the government said.

#banking-and-financial-institutions, #biden-joseph-r-jr, #federal-reserve-system, #global-warming, #greenhouse-gas-emissions, #insurance, #mortgages, #real-estate-and-housing-residential, #stocks-and-bonds, #treasury-department, #united-states-economy, #yellen-janet-l

U.S. Backs Global Minimum Tax of at Least 15% to Curb Profit Shifting Overseas

The Biden administration wants other countries to back a minimum tax as part of its plan to raise the U.S. corporate tax rate to 28 percent from 21 percent.

#corporate-taxes, #federal-taxes-us, #group-of-seven, #organization-for-economic-cooperation-and-development, #tax-shelters, #taxation, #treasury-department, #united-states-politics-and-government, #yellen-janet-l

Janet Yellen Was Right About Inflation

If you don’t think Janet Yellen was right, ask yourself why. 

#american-rescue-plan-2021, #biden-joseph-r-jr, #federal-reserve-bank-of-new-york, #inflation-economics, #stimulus-economic, #yellen-janet-l

Biden and Republicans Spar Over Unemployment as Job Gains Disappoint

The president said he saw no measurable evidence that a $300 federal boost in unemployment benefits was hurting the labor market, amid criticism from conservatives and business groups

#american-rescue-plan-2021, #bernstein-jared, #biden-joseph-r-jr, #coronavirus-2019-ncov, #republican-party, #treasury-department, #unemployment, #united-states-chamber-of-commerce, #united-states-economy, #united-states-politics-and-government, #white-house-council-of-economic-advisers, #yellen-janet-l

Goldman Sachs Wants Its Bankers Back at the Office

Goldman Sachs is the latest to call an end to remote work.

#banking-and-financial-institutions, #dimon-james, #facebook-inc, #goldman-sachs-group-inc, #interest-rates, #social-media, #solomon-david-m, #virtual-currency, #yellen-janet-l

Who’s Afraid of the Big Bad Boom?

Rising prices here and there aren’t a sign of runaway inflation.

#american-rescue-plan-2021, #federal-reserve-system, #inflation-economics, #interest-rates, #labor-and-jobs, #unemployment, #united-states-economy, #wages-and-salaries, #yellen-janet-l

Yellen Says Rates Might Need to Rise as Economy Recovers

Ms. Yellen, the Treasury secretary, said that some “modest” increases might be necessary. She later clarified to say that she was not making a recommendation or providing advice to the Federal Reserve, which sets monetary policy.

#american-jobs-plan-2021, #inflation-economics, #interest-rates, #treasury-department, #united-states-economy, #yellen-janet-l

The Daily: Biden’s First 100 Days

A collection of our reporting on the early days of Joe Biden’s administration.

#american-jobs-plan-2021, #american-rescue-plan-2021, #coronavirus-aid-relief-and-economic-security-act-2020, #executive-orders-and-memorandums, #garland-merrick-b, #inaugurations, #infrastructure-public-works, #nuclear-weapons, #stimulus-economic, #storming-of-the-us-capitol-jan-2021, #united-states, #united-states-economy, #united-states-politics-and-government, #yellen-janet-l

Money Market Funds Melted in Pandemic Panic. Now They’re Under Scrutiny.

In March 2020, the Federal Reserve had to step in to save the mutual funds, which seem safe until there’s a crisis. Regulation may be coming.

#banking-and-financial-institutions, #commercial-paper-finance, #coronavirus-2019-ncov, #federal-reserve-system, #financial-stability-oversight-council, #money-market-mutual-funds, #mutual-funds, #presidential-election-of-2020, #regulation-and-deregulation-of-industry, #securities-and-exchange-commission, #yellen-janet-l

Biden’s Tax Plan Aims to Raise $2.5 Trillion and End Profit-Shifting

The plan detailed by the Treasury Department would make it harder for companies to avoid paying taxes on both U.S. income and profits stashed abroad.

#american-jobs-plan-2021, #biden-joseph-r-jr, #democratic-party, #federal-taxes-us, #infrastructure-public-works, #republican-party, #tax-cuts-and-jobs-act-2017, #tax-shelters, #treasury-department, #trump-donald-j, #united-states, #united-states-economy, #united-states-politics-and-government, #yellen-janet-l

Treasury Ramps Up Racial Equity Review as It Deploys Relief Funds

The review follows an executive order signed by President Biden requiring federal agencies to pursue racial equity and to support underserved communities in their policies and programming.

#adeyemo-adewale, #american-rescue-plan-2021, #biden-joseph-r-jr, #coronavirus-2019-ncov, #executive-orders-and-memorandums, #internal-revenue-service, #minorities, #race-and-ethnicity, #stimulus-economic, #treasury-department, #united-states-economy, #united-states-mint, #united-states-politics-and-government, #yellen-janet-l

Biden Opts Against Branding Stimulus Checks, Breaking With Trump

President Biden’s name will not appear on the next round of payments.

#american-rescue-plan-2021, #biden-joseph-r-jr, #coronavirus-2019-ncov, #law-and-legislation, #mnuchin-steven-t, #stimulus-economic, #trump-donald-j, #united-states-politics-and-government, #yellen-janet-l

Treasury to Invest $9 Billion in Minority Communities

Treasury Secretary Janet Yellen is making Community Development Financial Institutions central to achieving an inclusive economy.

#banking-and-financial-institutions, #biden-joseph-r-jr, #federal-reserve-bank-of-new-york, #minorities, #poverty, #treasury-department, #united-states-politics-and-government, #yellen-janet-l

What Janet Yellen’s Policy Priorities Look Like

The Treasury secretary speaks on debt, taxes, cryptocurrencies and more.

#ballmer-steven-a, #bastian-edward-h, #federal-taxes-us, #james-letitia, #l-brands-inc, #mergers-acquisitions-and-divestitures, #united-states-economy, #victorias-secret, #virtual-currency, #yellen-janet-l

Janet Yellen on Jobs, Debt, Taxes, Climate and Cryptocurrency

The Treasury Secretary dropped hints about her priorities — if you know how to interpret them.

#banking-and-financial-institutions, #national-debt-us, #treasury-department, #unemployment, #united-states-economy, #virtual-currency, #yellen-janet-l

What the Bond Market Is Telling Us About the Biden Economy

A recent rise in interest rates hints that a recovery is on the way, but it could also mean harder choices ahead on spending.

#biden-joseph-r-jr, #government-bonds, #inflation-economics, #interest-rates, #stimulus-economic, #treasury-department, #united-states-economy, #yellen-janet-l

Why Top Economists Are Citing a Higher-Than-Reported Jobless Rate

The official rate stood at 6.3 percent in January, but using an expanded metric, Fed and Treasury officials say it’s closer to 10 percent.

#coronavirus-2019-ncov, #labor-and-jobs, #labor-department-us, #layoffs-and-job-reductions, #powell-jerome-h, #recession-and-depression, #unemployment, #united-states-economy, #yellen-janet-l

Biden and the Fed Leave 1970s Inflation Fears Behind

Administration and Fed officials argue that workers not getting enough stimulus help is a larger concern than potential spikes in consumer prices.

#american-enterprise-institute-for-public-policy-research, #american-recovery-and-reinvestment-act-2009, #biden-joseph-r-jr, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #inflation-economics, #interest-rates, #recession-and-depression, #stimulus-economic, #strain-michael-r, #summers-lawrence-h, #unemployment, #united-states, #united-states-economy, #yellen-janet-l

Bidenomics 101: Inside the White House’s Plans to Bring Jobs Back

In public and private, Biden and his advisers have signaled some dramatic interventions to revive U.S. manufacturing. Will they really happen?

#deese-brian-c-1978, #income-inequality, #international-trade-and-world-market, #labor-and-jobs, #presidential-election-of-2020, #tanden-neera, #united-states-economy, #united-states-international-relations, #united-states-politics-and-government, #warren-elizabeth, #yellen-janet-l

Democrats to Unveil Up to $3,600 Child Tax Credit as Part of Stimulus Bill

The credit would send monthly payments to millions of Americans under certain income thresholds for a year starting in July.

#biden-joseph-r-jr, #children-and-childhood, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #families-and-family-life, #house-of-representatives, #internal-revenue-service, #law-and-legislation, #poverty, #stimulus-economic, #tax-credits-deductions-and-exemptions, #taxation, #united-states-economy, #united-states-politics-and-government, #yellen-janet-l

Yellen and Regulators Met Amid GameStop Frenzy to Discuss Market Volatility

The Treasury Secretary met with her fellow regulators to discuss whether markets need new attention after the rise of so-called “meme stocks.”

#commodity-futures-trading-commission, #federal-reserve-bank-of-new-york, #federal-reserve-system, #yellen-janet-l

What’s Next for Crypto Regulation

The rules are in flux as a new U.S. administration takes over.

#commodity-futures-trading-commission, #gensler-gary-s, #office-of-the-comptroller-of-the-currency, #regulation-and-deregulation-of-industry, #saturdaynewsletter, #securities-and-exchange-commission, #treasury-department, #virtual-currency, #yellen-janet-l

Senate Confirms Janet L. Yellen as Treasury Secretary

Janet L. Yellen, who received bipartisan support, now faces a big challenge in confronting an economic threat that has caused financial hardship for millions of Americans.

#adeyemo-adewale, #biden-joseph-r-jr, #treasury-department, #united-states-economy, #united-states-politics-and-government, #yellen-janet-l

Senate Confirms Yellen as Treasury Secretary as Stimulus Talks Loom

Janet L. Yellen won Senate confirmation along bipartisan lines and now faces a big challenge in confronting an economic threat that has caused financial hardship for millions of Americans.

#adeyemo-adewale, #treasury-department, #united-states-economy, #yellen-janet-l

Yellen Confirmation Hearing: Nominee Outlines Economic Priorities as Republicans Draw Battle Lines

Janet L. Yellen, the Treasury secretary nominee, said at her confirmation hearing that the U.S. economy needed more help to get through the pandemic.

#federal-budget-us, #senate, #senate-committee-on-finance, #stimulus-economic, #treasury-department, #united-states-economy, #yellen-janet-l

New Yorkers in the Biden Administration

Dr. Anthony S. Fauci, Janet L. Yellen, Deanne Criswell and others with connections to the city are poised to have influence on policies.

#biden-joseph-r-jr, #cats, #fauci-anthony-s, #haines-avril-d, #new-york-city, #schumer-charles-e, #trottenberg-polly, #united-states-politics-and-government, #yellen-janet-l

Janet Yellen Readies Big Changes for Treasury

From financial regulation to minority lending, Biden’s pick is poised to change course sharply from the policies of Secretary Steven Mnuchin.

#adeyemo-adewale, #appointments-and-executive-changes, #banking-and-financial-institutions, #bernanke-ben-s, #biden-joseph-r-jr, #brookings-institution, #dodd-frank-wall-street-reform-and-consumer-protection-act-2010, #federal-reserve-system, #financial-stability-oversight-council, #mnuchin-steven-t, #presidential-transition-us, #regulation-and-deregulation-of-industry, #united-states-economy, #united-states-politics-and-government, #yellen-janet-l

Washington Has Been Lucrative for Some on Biden’s Team

Janet Yellen, the president-elect’s pick for Treasury secretary, collected more than $7 million in speaking fees over the past two years. Antony J. Blinken and Avril Haines did well, too.

#appointments-and-executive-changes, #biden-joseph-r-jr, #blinken-antony-j, #conflicts-of-interest, #presidential-transition-us, #treasury-department, #united-states-politics-and-government, #yellen-janet-l

What Is 13-3? Why a Debate Over the Fed Is Holding Up Stimulus Talks

The Fed’s emergency lending authorities are a key part of its job. Republicans want to curb them. Democrats are pushing back.

#banking-and-financial-institutions, #coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #federal-reserve-system, #mnuchin-steven-t, #presidential-election-of-2020, #stimulus-economic, #stocks-and-bonds, #toomey-patrick-j, #treasury-department, #united-states-economy, #united-states-politics-and-government, #yellen-janet-l

Biden’s Cabinet Picks, Part 1: Janet Yellen

A look at the president-elect’s choice of Treasury secretary and how she might tackle the pandemic-provoked financial crisis.

#federal-reserve-system, #presidential-transition-us, #san-francisco-calif, #treasury-department, #united-states-economy, #united-states-politics-and-government, #women-and-girls, #yellen-janet-l

Biden’s Economic Picks Suggest Focus on Workers and Income Equality

In the White House and elsewhere, the president-elect’s selections are heavy on labor economists and champions of organized labor.

#adeyemo-adewale, #bernstein-jared, #boushey-heather, #coronavirus-2019-ncov, #credit-and-debt, #federal-taxes-us, #income-inequality, #labor-and-jobs, #rouse-cecilia-e, #tanden-neera, #taxation, #unemployment, #united-states-economy, #united-states-politics-and-government, #wages-and-salaries, #yellen-janet-l

Biden Expected to Name Top Economic Officials This Week

President-elect Joseph R. Biden Jr. is expected to nominate Neera Tanden, a divisive figure within the Democratic Party, to lead the budget office, setting up a potential confirmation fight.

#adeyemo-adewale, #appointments-and-executive-changes, #bernstein-jared, #biden-joseph-r-jr, #boushey-heather, #rouse-cecilia, #tanden-neera, #united-states-economy, #united-states-politics-and-government, #yellen-janet-l

In Praise of Janet Yellen the Economist

She never forgot that economics is about people.

#federal-reserve-system, #inflation-economics, #presidential-election-of-2020, #recession-and-depression, #subprime-mortgage-crisis, #treasury-department, #united-states-economy, #yellen-janet-l

Markets Throw a Welcome Party of Sorts for Biden

Wall Street notched records, as relief settled in that the election is over and Janet Yellen will be the Treasury secretary in the next administration.

#biden-joseph-r-jr, #presidential-election-of-2020, #standardpoors-500-stock-index, #stocks-and-bonds, #treasury-department, #trump-donald-j, #yellen-janet-l

Yellen Would Assume Vast Policy Portfolio as Treasury Secretary

From trade and sanctions to tax policy and financial regulation, the former Fed chair will be at the center of the new administration’s agenda.

#appointments-and-executive-changes, #biden-joseph-r-jr, #content-type-personal-profile, #coronavirus-2019-ncov, #corporate-taxes, #embargoes-and-sanctions, #federal-budget-us, #national-debt-us, #presidential-transition-us, #regulation-and-deregulation-of-industry, #treasury-department, #united-states-economy, #united-states-international-relations, #united-states-politics-and-government, #yellen-janet-l