The plan will fix America’s crumbling highways and bridges; upgrade ports, airports, and transit systems; build a renewed electric grid; deliver high-speed broadband to all Americans; and invest in basic research and science. It proposes affordable and accessible caretaking options for older Americans and our nation’s children, and an education system that trains our workers to thrive in the modern global economy.

International priorities

Beyond our borders, as the pandemic has made clearer than ever before, the global community is in this together. We will fare better if we work together and support each other.

The Biden-Harris Administration is committed to restoring U.S. leadership in the multilateral system to help make the world economy stronger and advance American interests.

Domestic action must go hand in hand with U.S. international leadership, aimed at significantly enhancing global action. To this end, Treasury is working closely with our international partners and international organizations to implement ambitious emissions reduction measures, protect critical ecosystems, build resilience against the impacts of climate change, and promote the flow of capital toward climate-aligned investments and away from carbon-intensive investments. We are also working to ensure that climate risk is integrated into the financial system so that financial institutions, regulators, and investors can make informed decisions.


She said that it is important to consider the various aspects of cryptocurrencies, including the apparent use in money laundering, finance terrorisms, and funding anti-American activities that threatened national security.

Yellen said that it is imperative to closely monitor the use of cryptocurrencies and chalk out a way through which the system can encourage the use of cryptocurrency for ‘legitimate activities’ and stop the use for the illegal or maligning activities that pose a hazard to national security. She also said that if confirmed, she would be willing to work with the Federal Reserve Board and other authorities to develop a regulatory framework for digital assets and cryptocurrency.

It is worth noting that there has been quite a furor in the US cryptocurrency community regarding the clarity of cryptocurrency regulations.

To do so, rather than retreat, we must closely coordinate with our partners. We should aim to mitigate risks and promote a sound financial system at home and abroad, so that Americans have steady access to the finance needed to build back better—money to start a new business, to buy a home, and to create wealth for themselves and their children.

The second objective is to fight poverty and promote a more inclusive global economy that aligns with our values.

Unless we act now, the world is susceptible to the emergence of a deepening global divergence between rich and poor countries.


They also objected to the inclusion of such long-term Democratic goals as boosting the minimum wage to $15 per hour.

Sen. Tim Scott, R-S.C., said that the push for a higher minimum wage comes at a time when thousands of small businesses like restaurants have gone out of business, and that it would lead to more job losses.

Yellen said, however, that the increase in the minimum wage would help millions of frontline American workers who are risking their lives to keep their communities functioning and often working two jobs to put food on the table. “They are struggling to get by and raising the minimum wage would help these workers,” she said.

Despite policy differences, Yellen, who would be the first woman to be Treasury secretary after being the first woman to be chair of the Federal Reserve, is expected to win quick Senate confirmation.

Sen.

The damage has been sweeping, and as the president-elect said last Thursday, our response must be, too. Over the next few months, we are going to need more aid to distribute the vaccine; to reopen schools; to help states keep firefighters and teachers on the job. We’ll need more funding to make sure unemployment insurance checks still go out; and to help families who are at risk of going hungry or losing the roof over their heads.”

See: Biden Presidency Could Bring $1.9 Trillion Stimulus Plan, Increased Minimum Wage and More Cash for AmericansFind: 59% of Americans Say They Will Use Their Stimulus Money for This Necessity

During her testimony, in regards to China, Yellen said: “China is our most important strategic competitor, we need to work with our allies and strengthen our own economy so we can compete.

When developing countries are economically successful, their growing populations and rising living standards mean a higher consumer base for the United States. In 1990, 40 percent of U.S. exports went to emerging economies. By 2020, it was 60 percent. This demand for American products creates U.S.
jobs that pay better. Studies have shown that women, in particular, could earn as much as 20 percent more in these export-based jobs.

At the time of the global financial crisis in 2008, we learned that an interconnected economy brings vulnerabilities. Post-crisis reforms have strengthened global banks and reduced systemic risks, but vulnerabilities, particularly in the nonbank financial sector, remain. So, as we pursue a stronger world economy, we must also pay attention to existing financial stability risks and new risks that may arise.

This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.
Do your due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence.

For the United States to prosper, our neighbors too must prosper. In the modern world, recession, instability, and crime abroad find ways to wash upon our shore. Strong and stable economies abroad make us safer. We will benefit if countries can maintain or create economic, social, and political conditions favorable to an open society. We will benefit if individuals around the world can pursue their aspirations, regardless of conditions of birth, and if women have truly equal rights and opportunity to be included in the economy. We will benefit if people—while retaining cultural differences—share core values of free speech, free exercise of religion, and respect for diversity.

Of course, stronger growth abroad also means a stronger economy here at home. As other economies prosper, demand for U.S. exports of goods and service increase, creating jobs.

Together we can use a global minimum tax to make sure the global economy thrives based on a more level playing field in the taxation of multinational corporations, and spurs innovation, growth, and prosperity.

Let me end by discussing the biggest long-term threat the world faces: climate change. After sitting on the sidelines for four years, the United States is committed to doing its part. We have a narrow moment to pursue action at home and abroad to avoid the most catastrophic impacts of that crisis and to seize the opportunity that tackling climate change presents. President Biden has released a plan to combat climate change, including through rejoining the Paris Agreement, investing in sustainable infrastructure, and creating new green jobs. He has committed to release an ambitious strategy this year to outline U.S.

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