Tag: treasury

Biden’s economic centrism isn’t exciting, but right for these divisive times

In an age of hyperpartisan politics, the Biden presidency offers a welcome centrism that might help bridge the divides. But it is also Biden’s economic centrism that offers a chance to cut through what has become an increasingly polarised approach…

Biden picks Warren allies to lead SEC, Consumer Financial Protection Bureau

President-elect Joe Biden has selected FTC commissioner Rohit Chopra to be the next director of the Consumer Financial Protection Bureau (CFPB) and Obama-era Wall Street regulator Gary Gensler to lead the Securities and Exchange Commission (SEC). Why it matters: Both…

Surreal Photos Show DC In Lockdown As Inauguration Day Approaches

As Washington, DC, still reels from the January 6 insurrection at the US Capitol, it also prepares for the inauguration of Joe Biden and Kamala Harris. Photos this week show the city mounting unprecedented preparations against the backdrop of the…

All eyes on Federal Reserve chair Jerome Powell as interest rates creep higher

With long-term U.S. interest rates creeping higher and the stock market rally looking increasingly bubblicious, market participants will have a keen eye on remarks by Fed chair Jerome Powell today at Princeton University. Why it matters: The uncertainty created by…

Democrats seek progressive overhaul of the U.S. financial system

Now in control of Congress, Democrats are looking to give the U.S. financial system a progressive overhaul, incoming Senate Banking Chairman Sherrod Brown said Friday. It will be a tall task. What we’re hearing: “This committee in the past has…

Negative rates explained: how money for (less than) nothing is helping out the budget

A week ahead of Thursday’s budget update, it finally happened. Instead of the government paying to borrow in a way that would add to the burden on the budget (as has happened since time immemorial) it actually got paid to…

TikTok gets more time to satisfy national security concerns

The White House is again giving TikTok’s Chinese parent company more to satisfy national security concerns, rather than initiating legal action, a source familiar with the situation tells Axios. The state of play: China’s ByteDance had until Friday to resolve…

Vital Signs: Janet Yellen, the very model of a modern Madam Secretary

It is widely tipped that US president-elect Joe Biden will nominate Janet Yellen as Treasury Secretary – one of the most important posts in any administration. She will make for a terrific Treasury Secretary, bringing with her a wealth of…

Data from 45 countries show containing COVID vs saving the economy is a false dichotomy

There is no doubt the COVID-19 crisis has incurred widespread economic costs. There is understandable concern that stronger measures against the virus, from social distancing to full lockdowns, worsen its impact on economies. As a result, there has been a…

From here on our recovery will need more than fiscal policy, it’ll need redistribution

From the 1980s right through to the global financial crisis, the standard response in Australia and elsewhere to too weak or too strong an economy has been monetary policy — the manipulation of interest rates by a central bank, in…

Workers bear 71% to 100% of the cost of increases in compulsory super

The government’s much-anticipated Retirement Incomes Review has found that increases in employer’s compulsory superannuation contributions are financed by reductions in workers’ wage growth. This isn’t obvious, and it certainly isn’t what the superannuation industry has been saying. Legally, those contributions…