WASHINGTON—The Treasury Secretary Janet Yellen has questioned the merits of tariffs imposed by the Trump administration on billions of dollars of Chinese goods, stating that they have harmed American consumers. Yellen is the first Biden official to criticize the existing tariffs and her comments raise the question of whether the White House is preparing to…
Navarro Defends Trump’s China Tariffs Against Biden’s Treasury and Wall Street
Commentary On July 16, Treasury Secretary Janet Yellen criticized President Trump’s tariffs against $360 billion worth of China’s exports. “My own personal view is that tariffs were not put in place on China in a way that was very thoughtful with respect to where there are problems and what is the U.S. interest,” Yellen said after…
The Attempt to Standardize Corporate Profits Taxes: Globalist Politics Versus Sound Economics
Commentary If you aren’t already cynical about politics, an examination of the politics underlying the tentative agreement of 130 national governments to harmonize their laws about how much to tax the profits of multinational enterprises (MNEs) provides plenty of reasons to be cynical. First is the hypocrisy that, at a time when the Biden administration…
Deep Dive (July 2): 130 Countries Back 15 Percent Global Minimum Corporate Tax: Yellen
Challenges lie ahead for rescue teams in Surfside. Rescue crews are back, searching through the rubble of the Florida condo collapse. They resumed Thursday night, after having to stop for 15 hours over safety concerns. Pressing concerns include the stability of the portion of the building that still stands. The next challenge is the weather….
Supreme Court Rules Alaska Native Corporations Eligible for CARES Act Payments
The Supreme Court ruled 6-3 that for-profit Alaska Native Corporations (ANCs) are Indian tribes and as such as entitled to seek pandemic-related financial relief set aside for Indian tribes in last year’s CARES Act. Justice Sonia Sotomayor wrote the court’s opinion in Yellen v. Confederated Tribes of the Chehalis Reservation, court file 20-543, and the…
Yellen Pleads With Congress to Raise Debt Ceiling or Risk ‘Unthinkable’ Default
Treasury Secretary Janet Yellen on Wednesday pleaded with lawmakers to raise the federal debt ceiling to stave off an “unthinkable” first-ever default on U.S. debt obligations that could spark a financial crisis. Yellen made the remarks in testimony before a Senate Appropriations subcommittee, urging lawmakers to raise the legal cap on how much the federal…
Tax Rates Race to the Bottom?
Commentary According to U.S. Treasury Secretary Janet Yellen, global corporate income taxes have been lo these many years “racing to the bottom.” This must be nipped in the bud, in her opinion, if prosperity is to be attained. Say what? Taxes are too low? This will be news to taxpayers! As she sees matters, Adam…
Inflation Pushing Interest Rates Higher Would Be Good for US: Yellen
Treasury Secretary Janet Yellen said that the trillions of dollars in President Joe Biden’s new spending proposals would be good for the United States even if it pushes inflation higher and leads the Fed to raise interest rates. “If we ended up with a slightly higher interest rate environment it would actually be a plus…
US Treasury’s Yellen Tells G7 to Keep Spending, Says Inflation Will Pass
LONDON/WASHINGTON—U.S. Treasury Secretary Janet Yellen urged other rich nations on Saturday to keep up spending to support their economies even as the COVID-19 pandemic wanes, and said U.S. inflation this year would be elevated but transitory. Yellen told a news conference after G7 finance ministers met in London that they needed to invest in a…
Deep Dive (May 3): Treasury Secretary Janet Yellen Pushes Back on Inflation Fears
Former President Donald Trump went after the Supreme Court and Senate Minority Leader Mitch McConnell in a blistering statement. As to the border crisis, at least three people were killed and more than two dozen were hospitalized on Sunday after a suspected human smuggling boat capsized and broke apart just off the San Diego coast….
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