Janet Yellen on Corporations

	Janet Yellen on Corporations

15% global minimum tax is an historic agreement

Q: You support the 15% global minimum tax. Are you confident Congress can get this passed?

YELLEN: I hope that it will be passed. This is really an historic agreement. It's something that is very important for American workers to stop what's been a decades-long race to the bottom on corporate taxation, where countries try to cut their taxes to attract our businesses, to make it harder to keep jobs in the United States. We should be competing on the basis of our strengths.

Source: ABC This Week 2021 interview transcript , Oct 10, 2021

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

Worried about insufficient oversight of investment firms

Yellen, whose financial disclosures show that she earned a total of $7 million in fees over the past two years, voiced worry about insufficient oversight of large firms that serve as hubs of lending or investment. She says regulators should particularly consider reining in hedge funds and other firms that have escaped heightened scrutiny since the 2008 credit crisis, including in the landmark Dodd-Frank law, which largely focused on big banks. Source: Politico e-zine on 2021 Biden Cabinet , Jan 10, 2021

Risks of hedge funds' debt very real and serious

Hedge funds are among the big financial institutions that Yellen has dealt with in her remarks. In remarks at the Brookings event, she said financial market stress showed that the risks posed by hedge funds' debt-fueled investments "were very real and serious," though she did not directly characterize them as responsible for the market seize up. Source: Politico e-zine on 2021 Biden Cabinet , Jan 10, 2021

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