By Reuters Staff
1 Min Read
WASHINGTON, April 5 (Reuters) - U.S. Treasury Secretary Janet Yellen said that a $650 billion increase in International Monetary Fund currency reserves will put significant resources into the hands of the world’s poorest countries facing the biggest pandemic needs.
Yellen told the Chicago Council on Global Affairs that many advanced economies which will get the biggest share of resources from the U.S.-backed Special Drawing Rights allocation have indicated a desire and willingness to loan or donate SDRs to poorer countries through IMF facilities.
Yellen also said that she doubted that Biden spending initiatives, including a $1.9 trillion relief package and a proposed $2 trillion infrastructure investment plan, would cause inflationary pressures because the true U.S. unemployment rate was still around 9% due to the coronavirus pandemic. (Reporting by David Lawder)
7 Min Read
WASHINGTON (Reuters) - Since the deadly Jan. 6 insurrection at the U.S. Capitol, former President Donald Trump and his Republican allies have pushed false and misleading accounts to downplay the event that left five dead and scores of others wounded. His supporters appear to have listened.
FILE PHOTO: Light catches the security fence around the U.S. Capitol, erected in the wake of the January 6th attack but now scheduled to start being removed, in Washington, U.S. March 15, 2021. REUTERS/Jonathan Ernst/File Photo
Three months after a mob of Trump supporters stormed the Capitol to try to overturn his November election loss, about half of Republicans believe the siege was largely a non-violent protest or was the handiwork of left-wing activists “trying to make Trump look bad,” a new Reuters/Ipsos poll has found.
Top Democrats on the Senate Finance Committee on Monday proposed major shifts in former President Donald Trump's 2017 tax reforms to eliminate what they say are incentives for companies to move operations overseas and shift profits to tax haven countries.
4 Min Read
WASHINGTON (Reuters) -President Joe Biden on Monday defended his proposal to raise corporate taxes to help pay for his infrastructure spending plans, saying he was not worried the hike would harm the economy and that there was no evidence it would drive business abroad.
FILE PHOTO: U.S. President Joe Biden holds smiles as he holds a Cabinet meeting in the East Room at the White House in Washington, U.S., April 1, 2021. REUTERS/Tom Brenner/File Photo
Speaking to reporters in Washington after spending Easter weekend at the Camp David presidential retreat in Maryland, Biden again took aim at the 50 or 51 corporations on the Fortune 500 list that paid no taxes at all for three years, saying it was time for them to pay their share.
3 Min Read
WASHINGTON (Reuters) -President Joe Biden on Monday defended his proposal to increase corporate taxes to help pay for a big boost in U.S. infrastructure spending, saying he is not at all worried the tax hike would harm the economy.
FILE PHOTO: U.S. President Joe Biden holds smiles as he holds a Cabinet meeting in the East Room at the White House in Washington, U.S., April 1, 2021. REUTERS/Tom Brenner/File Photo
Speaking to reporters after arriving back in Washington after a weekend at the presidential Camp David retreat in Maryland, Biden also said there was “no evidence” his proposed corporate tax increase would drive companies away from the United States.