Janet Yellen in Reuters
On Budget & Economy:
Does not seek a weaker U.S. currency; let markets determine
She also that the value of the dollar should be determined by markets, a break from departing President Donald Trump's desire for a weaker
U.S. currency. "The United States does not seek a weaker currency to gain competitive advantage and we should oppose attempts by other countries to do so," she said.
Source: Reuters news service on 2021 Biden Cabinet
Jan 19, 2021
On Corporations:
Investigate retail trading; ensure investors are protected
Yellen told "Good Morning America" it was critical to ensure "that our financial markets are functioning properly, efficiently and that investors are protected." Yellen convened the heads of the SEC, CFTC, the Federal Reserve Board and the Federal
Reserve Bank of New York to discuss retail trading and "whether or not the recent events warrant further action," she told ABC. "We need to understand deeply what happened before we go to action, but certainly we're looking carefully at these events."
Source: Reuters news service on 2021 Biden Cabinet
Feb 4, 2021
On Principles & Values:
Got permission from ethics lawyers before acting
Before calling the meeting, Yellen sought and received permission from Treasury ethics lawyers to do so and ensure that she was in compliance with her ethics agreement.
Reuters reported here on Monday that such an ethics waiver might be necessary because of the over $700,000 in speaking fees Yellen was paid by Citadel LLC, a hedge fund that has been at the center of the GameStop trading saga.
Source: Reuters news service on 2021 Biden Cabinet
Feb 4, 2021
On Tax Reform:
Corporations & wealthy need to pay their fair share
Yellen said pandemic relief would take priority over tax increases, but corporations and the wealthy, which both benefited from 2017 Republican tax cuts "need to pay their fair share."She raised eyebrows of some senators and
Wall Street when she said that Treasury would consider the possibility of taxing unrealized capital gains - through a "mark-to-market" mechanism - as well as other approaches to boost revenues.
Source: Reuters news service on 2021 Biden Cabinet
Jan 19, 2021
Page last updated: Sep 29, 2024