- Yellen again reiterates that the focus now is not on tax increases, but rather on relief programs tied to the pandemic.
- Yellen says that technologies in terrorist financing change over time, and response also needs to change with it. She noted crypotcurrency as an area of concern for terrorist and criminal financing.
- “I believe the future is likely to bring low interest rates for a long time,” she said, adding it is possible for rates to rise.
- “I think we should take these risks very,very seriously. I think climate change is an existential threat.”
- “I would be very pleased to take a look” at issuing longer-term debt, including a 50-year Treasury bond, she says.
- Yellen goes on the offensive here over the question of the minimum wage, saying the latest research shows only “minimal” job losses in states that raised their minimum wage levels.
- Grassley said he’s “closely examining” Biden’s $1.9 trillion stimulus plan. He says the plan doesn’t appear to be well targeted and says it’s important to “focus efforts” on pandemic relief and not enact a “laundry list” of liberal reforms.
- This appears to be a stab at the plans inclusion of a $15 federal minimum wage in the plan.
- She says there would be money for small business, grants to small entrepreneurs, eviction protections, nutrition assistance, paid leave — all things to help minority communities.
- To not spend more on pandemic and economic relief would leave the economy worse off, she said. She said without deficit financing this aid, the economy could have long run problems and “scarring.”
- She says she is concerned that China is investing in electric vehicles and that most of the EV sales are projected to be in China in the coming years.
- Yellen says that they would not seek to roll back the 2017 tax cuts “now” while the economy is still struggling.
- Yellen says the value of the dollar should be determined by markets, and the U.S. does not seek a weaker currency to gain a competitive advantage.
- Some hedge funds have “dangerous levels of leverage,” Yellen says.
- Grassley says he’s told Yellen that it would be a “big mistake” to raise taxes on individuals and businesses during a pandemic.
These are the most outstanding things that came to me for investing.
TL;DR MORE STIMULUS, MORE GREEN INVESTMENTS AND POLICIES AND COMPETING WITH CHINA, UPCOMING CRYPTO POLICIES, TAX CUTS ARE HERE TO STAY FOR THE PANDEMIC.
GOOD LUCK IN INVESTING. I HOPE YOUR AND MINE GREEN INVESTMENTS MOON!
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