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Treasury Secretary Janet Yellen says workers earning up to $60,000 a year should receive stimulus checks under the White House’s proposed $1.9 trillion relief package

Treasury Secretary Janet Yellen said US workers earning up to $US60,000 should get direct payments. The question of who should receive payments under Biden’s relief package is a key debate in Congress. If Biden’s $US1.9 trillion package is passed, the US would return to full employment by 2022, Yellen said. […]
Treasury Secretary Janet Yellen says workers earning up to $60,000 a year should receive stimulus checks under the White House’s proposed $1.9 trillion relief package
News

The Senate confirms Janet Yellen as America’s first female Treasury chief

Yellen was confirmed in the US Senate on Monday in an 84-15 vote. The 74-year-old economist is the first woman to lead the Treasury Department. She will play a critical role shepherding the Biden administration’s rescue package through Congress. Visit Business Insider’s homepage for more stories. The Senate voted on […]
The Senate confirms Janet Yellen as America’s first female Treasury chief
Markets

Janet Yellen suggests ‘curtailing’ cryptocurrencies such as Bitcoin, saying they are mainly used for illegal financing

Janet Yellen suggested lawmakers ‘curtail’ use of Bitcoin amid terrorism concerns. Yellen said cryptocurrency transactions mainly used for ‘illicit financing’. It is the latest sign lawmakers and regulators could get tough on Bitcoin and Ethereum. Sign up here for our daily newsletter, 10 Things Before the Opening Bell . Treasury […]
Janet Yellen suggests ‘curtailing’ cryptocurrencies such as Bitcoin, saying they are mainly used for illegal financing
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‘Another spending blowout’: Senate Republicans turned up their criticism of Biden’s $1.9 trillion stimulus plan during Janet Yellen’s confirmation hearing

Republicans launched attacks against the Biden stimulus plan during the Yellen confirmation hearing on Tuesday. Sen. Chuck Grassley called it a “laundry list of liberal structural economic reforms.” The hearing likely presages the staunch opposition many parts of Biden’s economic agenda will encounter on Capitol Hill. Visit Business Insider’s homepage […]
‘Another spending blowout’: Senate Republicans turned up their criticism of Biden’s $1.9 trillion stimulus plan during Janet Yellen’s confirmation hearing
News

Sen. Joe Manchin calls for up to $4 trillion in infrastructure spending as Democrats are poised to control Congress

Democratic Sen. Joe Manchin said lawmakers should support trillions in infrastructure spending on the eve of Biden’s inauguration. “The most important thing? Do infrastructure,” Manchin told Inside West Virginia Politics, a news program. Biden has introduced a $US2 trillion plan to renew the nation’s infrastructure and said recently he would […]
Sen. Joe Manchin calls for up to $4 trillion in infrastructure spending as Democrats are poised to control Congress
News

The tools that rescued America’s economy are mostly helping wealthy Americans

The US central bank’s economic rescue efforts during the pandemic have supported America’s recovery, which is turning out to be K-shaped. To stimulate the economy after a dramatic slowdown and stock-market crash triggered by the coronavirus pandemic, the Federal Reserve bought Treasury bonds and mortgage-backed securities, a process known as […]
The tools that rescued America’s economy are mostly helping wealthy Americans
News

Treasury Secretary Mnuchin is moving $455 billion of unspent stimulus money into a fund the incoming Biden administration can’t deploy without Congress

Treasury Secretary Steven Mnuchin is moving $US455 billion in unspent stimulus money into a fund that the incoming Biden administration cannot deploy without Congress, Bloomberg reported on Tuesday. It will leave Mnuchin’s likely successor, Janet Yellen, with only $US80 billion in relief funds at her discretion. Experts say Mnuchin’s move […]
Treasury Secretary Mnuchin is moving $455 billion of unspent stimulus money into a fund the incoming Biden administration can’t deploy without Congress
Markets

Dow closes above 30,000 for the first time ever on Biden-transition rally

US equities jumped on Tuesday after the General Services Administration’s ascertainment of President-elect Joe Biden’s victory lifted investor sentiments. The Dow Jones industrial average climbed above 30,000 for the first time, marking a rapid comeback after the index sank as low as 18,213 in March. The GSA announced Monday afternoon […]
Dow closes above 30,000 for the first time ever on Biden-transition rally
Markets

Dow climbs 310 points as investors cheer transition to Biden administration

US equities gained on Tuesday as the General Services Administration’s ascertainment of a Biden victory lifted investor sentiments. The GSA announced Monday afternoon it will provide President-elect Biden with the “resources and services” needed to start his transition to the White House. The move is the clearest sign yet that […]
Dow climbs 310 points as investors cheer transition to Biden administration
Markets

Warren Buffett wants more small-business aid, less income inequality, and a robust economic recovery. He’ll be happy to have Janet Yellen as treasury secretary

Warren Buffett is likely pleased that President-elect Joe Biden intends to appoint Janet Yellen as treasury secretary. The billionaire investor and Berkshire Hathaway CEO praised the former Federal Reserve chief in 2014, and will likely support her efforts to stimulate the US economy, boost employment, and combat income inequality. “I […]
Warren Buffett wants more small-business aid, less income inequality, and a robust economic recovery. He’ll be happy to have Janet Yellen as treasury secretary
Markets

Former Fed Chairs Ben Bernanke and Janet Yellen signed a letter with 130 top economists imploring Congress to prevent ‘prolonged suffering and stunted economic growth’

A group of 130 top economists including Ben Bernanke and Janet Yellen signed a letter with 130 top economists calling for Congress to act and prevent “prolonged suffering and stunted economic growth.” “If Congress fails to act, state and local governments face potentially disastrous budget shortfalls, and the Congressional Budget […]
Former Fed Chairs Ben Bernanke and Janet Yellen signed a letter with 130 top economists imploring Congress to prevent ‘prolonged suffering and stunted economic growth’
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