Senator Kyrsten Sinema Criticizes Federal Reserve for Delayed Action on Inflation

Senator Kyrsten Sinema (D-AZ) criticized the Federal Reserve for being too slow to react to inflation that is crippling the country.

In response to the growing crisis, the group raised interest rates by 0.75 percentage points, which is the largest increase since 1994.

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Georgia U.S. Senate Candidate Herschel Walker Calls on Biden to Fire Treasury Secretary Janet Yellen amid Historic Inflation

Georgia U.S. Senate candidate Herschel Walker blasted President Joe Biden, Treasury Secretary Janet Yellen, and Democratic Senator Raphael Warnock for historic levels of inflation that are crushing individuals.

Walker, who received the GOP nomination last month, called on Biden to fire Yellen for previously claiming that inflation would be temporary and not pose a severe risk to the economy.

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Burt Jones States Intent to Fight Inflation with Tax Cuts for Georgia

Republican Candidate for Lieutenant Governor, Burt Jones, took to Twitter on Friday to propose a possible solution to Bidenflation, which recently peaked at a record 8.6%.

“Inflation is out of control—and it’s making virtually everything more expensive for Georgia families. As Lieutenant Governor, I’ll be focused on continuing to cut taxes, lower costs, and put more money back into the pockets of hardworking Georgians,” the Trump-endorsed Jones said.

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Yellen to Testify on Biden Budget After Admitting She Was Wrong on Inflation

U.S. Treasury Secretary Janet Yellen will testify before the Senate Finance Committee Tuesday, just days after she admitted she was wrong about inflation earlier in President Joe Biden’s term.

The hearing, which is on “the president’s fiscal year 2023 budget” will only feature testimony from Yellen, according to the committee’s website.

Biden’s budget likely will be under extra scrutiny as gas prices continue to hit record highs and inflation rises at the fastest level in decades.

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‘I Was Wrong’: Biden’s Treasury Sec Admits She Bungled Inflation Prediction

United States Treasury Secretary Janet Yellen admitted she was wrong in the past about her inflation predictions during an interview with CNN’s Wolf Blitzer.

“I think I was wrong then about the path that inflation would take,” Yellen told Blitzer Thursday on “The Situation Room” in response to 2021 comments where she claimed inflation would be “a small risk.”

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Sen. Tim Scott Demolishes Secretary Janet Yellen’s Claim Unborn Babies Must Be Aborted to Benefit Economy

Sen. Tim Scott (R-SC) shut down Treasury Secretary Janet Yellen’s claim that women must be able to abort their unborn children in order to contribute to the economy as workers.

During a Senate Banking Committee meeting Tuesday, Yellen said a decision by the U.S. Supreme Court to overturn Roe v. Wade would damage the economy.

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Janet Yellen Defends Sustainable Investing Craze That’s Trying to End U.S. Oil and Gas Drilling

Treasury Secretary Janet Yellen defended sustainable investing practices and climate change policies that have negatively impacted U.S. oil and gas drilling in an interview Friday.

“I don’t think that the ESG movement and the emphasis on climate change is creating the problems that we have,” Yellen told CNBC’s “Squawk Box” on Friday morning when asked if investors need to rethink their stance on fossil fuels. “If anything, the problem is that we haven’t moved as rapidly as we should have.”

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Congress Considers Bill to Expose Russian, Chinese Funding of American Groups

Newly introduced legislation would require think tanks and nonprofits to reveal whether they have significant funding from governments and political groups in Russia and China.

U.S. Rep. Lance Gooden, R-Texas, introduced the “Think Tank and Nonprofit Foreign Influence Disclosure Act” Thursday, which would require nonprofits and think tanks to disclose foreign donations over $50,000. The bill would require the U.S. Treasury Department to create a “publicly available in a searchable database information relating to such gifts and contributions received from foreign governments and political parties…”

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Treasury Department Hires First-Ever ‘Counselor for Racial Equity’

The Treasury Department announced Monday it hired its first every Counselor for Racial Equity to support President Biden’s push for economic opportunities for people of color.

Janis Bowdler, former president of the JPMorgan Chase & Co. Foundation, will serve as the first “Counselor for Racial Equity,” the Treasury Department said.

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Democrats’ Budget Set to Include Global Minimum Tax, Treasury Secretary Says

Treasury Secretary Janet Yellen said Sunday that she is confident that the Democrats’ budget will include a global minimum tax for corporations just days after nearly 140 countries endorsed the measure.

“I am confident that what we need to do to come into compliance with the minimum tax will be included in a reconciliation package,” Treasury Secretary Janet Yellen told ABC News on Sunday. “I hope that it will be passed and we will be able to reassure the world that the United States will do its part.”

Though the United States and 135 other countries signed the agreement, each nation must pass its own legislation to enact the minimum tax rates. Democrats are currently crafting the budget, a spending package that would reshape the social safety net, but the process has slowed by disagreements between the party’s moderate and left wings.

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Arizona State Treasurer Kimberly Yee Sends Letter to Sinema, Kelly Opposing Legislation to Allow IRS to Monitor Americans’ $600 or More Withdrawals and Deposits

Arizona State Treasurer Kimberly Yee sent a letter to Arizona’s Democratic Sens. Kyrsten Sinema and Mark Kelly urging them not to vote for legislation that would allow the IRS to monitor Americans’ bank accounts for transactions of $600 or more in withdrawals and deposits. The proposal is part of the Biden administration’s $3.5 trillion American Families Plan, the so-called “human infrastructure” bill. Scott Earl, the CEO & President of Mountain West Credit Union Association, also signed the letter, representing multiple credit unions. 

Yee, who is running for governor of Arizona, said, “As it stands now, this proposal would threaten the financial security of more than 100 million Americans from all demographics. If it passes, the government will conduct one of the largest data mining exercises in American history, risking the security of the banking system.”

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Commentary: Afghanistan Reveals U.S. Choices Have Dangerously Narrowed

In the “Nicomachean Ethics,” Aristotle has a lot to say about the activity of choice and its place in securing “eudaimonia,” that “good-spiritedness” that is synonymous with human fulfillment.

Choice is critical in the metabolism of virtue. But, Aristotle points out, it is possible for someone, through bad choices, to put himself in a situation from which choice cannot rescue him.

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Janet Yellen Warns of ‘Irreparable Harm’ If Congress Doesn’t Raise the Debt Ceiling

Treasury Secretary Janet Yellen warned congressional leaders Friday that failing to raise the debt ceiling would risk “irreparable harm to the U.S. economy and the livelihoods of all Americans.”

In a letter, Yellen said that she did not know how long the Treasury Department could prevent the U.S. from defaulting on its debt, which could carry catastrophic economic consequences. The debt ceiling is set to expire on Aug. 1.

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Treasury Secretary Warns of ‘Rapid’ Inflation This Year

Janet Yellen

As more federal data show a major spike in inflation, another top federal official said the U.S. is in for more aggressive inflation for the rest of 2021.

Federal officials have been pressed to speak on rising inflation after \data released earlier this week showed that the all items index increased 5.4% over the last 12 months, the biggest spike since the 2008 financial crisis.

Treasury Secretary Janet Yellen commented on the rise in inflation, saying it would grow worse this year.

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Ohio Attorney General Continues Court Fight Over American Rescue Plan Taxing Provision

Dave Yost

Ohio Attorney General Dave Yost says Congress crossed a line and U.S. Treasury Secretary Janet Yellen struggles to explain whether states retain authority to set their own tax codes if they accept money from the recently passed American Rescue Plan.

Yost responded Thursday with a motion in support of his lawsuit for a temporary restraining order to stop the federal government’s tax mandate in the ARP. Yost believes the mandate holds states hostage and takes away Ohio’s control of its tax structure and economic policy.

“Congress crosses the line separating permissible encouragement from impermissible,” Yost’s latest motion reads. “Ohio stands to receive $5.5 billion. In the pandemic-caused economic crisis, Ohio cannot realistically turn that down.”

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Georgia AG Carr Joins 20 Other AGs Who Fear American Rescue Plan Could Hijack State Tax Policy

Georgia Attorney General Chris Carr is among 21 state attorneys general calling on the U.S. Department of Treasury to secure states’ rights to implement tax policies under the American Rescue Plan Act.

The attorneys general sent a letter this week to Treasury Secretary Janet Yellen, asking her to confirm that provisions in the act do not attempt to strip states of their sovereign authority. They argue language in the act is too broad and could be interpreted as a blanket policy.

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Biden Selects Former Federal Reserve Chairwoman Janet Yellen for Treasury Secretary, Would Be First Woman to Hold Position: Report

President-elect Joe Biden is expected to name former Federal Reserve Chairwoman Janet Yellen for secretary of the Department of the Treasury, The Wall Street Journal first reported Monday.

Yellen, 74, who was the first woman to serve as Federal Reserve chair after she was confirmed by the Senate in 2014, would be the first woman to head the Treasury Department, according to CNBC. Yellen is widely considered to be a “safe” pick with a high likelihood of confirmation by a closely divided Senate.

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President Trump Will Decide Fed Chair in Two or Three Weeks

President Donald Trump indicated Friday he would select his nominee to be the next Federal Reserve chair within weeks, after meeting potential candidates. Trump said he would decide who chairs the US central bank, after interviewing Kevin Warsh, Jerome Powell and two other candidates. “I’ve had four meetings” Trump said…

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