Janet Yellen, a former Federal Reserve chair, has become President-elect Joe Biden’s nominee for Treasury Secretary. Currently Ms. Yellen is testifying before Senate Finance Committee. The former Federal Reserve chair is expected to advocate for a major fiscal stimulus. Below we present some short recap of the hearing so far.
-
China is clearly the most important strategic competitor of the United States
-
United States need to cooperate with the rest of the world in order to face up to China’s dominance
-
Prepared to use full array of tools to challenge China’s abusive, unfair and illegal practises
-
Value of dollar and other currencies should be determined by markets. Targeting of exchange rates for commercial advantage is unacceptable
-
Not seeking weaker US dollar to gain advantage
-
Biden administrator does not want to increase taxes during the pandemic
-
Capital gains should be taxed at some point
-
Parts of 2017 tax cuts for wealthy Americans and large companies should be repealed
-
Must put federal budget on sustainable path
-
Electric vehicles are good way to address climate change and create good jobs for Americans
The US dollar is weakening right now, which could have been caused by surging TNOTE. Source: xStation5
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.