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Janet Yellen, who has been appointed as the next United States Secretary of the Treasury, will attend a nomination approval hearing to be held at the Senate Finance Committee on the 19th.
If approved by the former chair of the Clinton administration’s Presidential Economic Advisory Board (CEA), as well as by Yelen, who has served as governor of the Federation Bank of San Francisco and vice chair of the Federal Reserve Board ( FRB), will be the prime minister of finance.
Mr. Yeren (74) is expected to bring up monetary policy and the tax system in a hearing that will begin at 10 am ET (midnight Japan time). Furthermore, discussions are expected for the first time on the $ 1.9 trillion (about 197 trillion yen) economic measures launched by the next president, Byden.
According to the text of testimony obtained by Bloomberg News, Mr. Yeren agreed with Mr. Byden’s idea that low borrowing costs should be used to increase public spending and boost the economy, “interest rates are at historically low levels. Now, the wisest thing to do is act boldly. “
Yelen will be responsible for persuading Congress to accept comprehensive economic measures. Social safety net programs, such as the increase in minimum wages included in the economic measures and the significant expansion of family and sick leave, have already provoked a backlash from the Republican Party. The Democratic Party in Parliament is also expected to push forward the promotion of its own priorities.
Tony Flat, who was a White House spokesman under former President Bush, said: “I don’t know how Yeren will market her politics in the political world. She once had to do that. I didn’t.” “We will find the best way to win support for the administration’s policies,” he said.
Yellen will attend an online hearing, stating that the US economy is struggling to correct inequality and that the long-term goal of the next administration will be to create “more prosperity for more people.” Is.
| Hearing testimony of Mr. Yelen |
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・ Currency policy Do you confirm your commitment to market-determined exchange rates? Will the US government clarify its policy of not going after a weaker dollar because of its competitive advantage in trade? ・ Policy towards China If the Byden administration aims to resume regular dialogue What role does Yeren play in any setting? ・ Regulation and tax system How Mr. Yeren will play a central role in the new administration, which is expected to strengthen oversight of financial institutions and eliminate tax cuts ・ Deficit fiscal policy How to set a safe limit as public debt approaches 100% of total national production (GDP) ・ Adjust with FRB How to handle expired FRB emergency loan program for the new corona virus disaster |
Janet Yellen (November 6, 2018)
Photo: Justin Chin / Bloomberg
Original title:Yellen will enter the firing line at Biden Aid when recovery wears off (2) （抜 粋）
