Yellen signals US corporate tax hike, Powell again downplays inflation

Washington (AFP) – US Treasury Secretary Janet Yellen on Tuesday signaled that President Joe Biden is willing to hike corporate taxes to pay for his administration’s priorities, while Fed Chair Jerome Powell again downplayed fears that inflation would spike as the economy healed from the Covid-19 pandemic. The comments from Yellen come as Washington lawmakers prepare for Biden’s next move after Congress passed his $1.9 trillion American Rescue Plan earlier this month, a massive injection of spending intended to support businesses and workers in the world’s largest economy, hard-hit by the pand…

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