May 11 2021, 9:31 AM
May 10 2021, 6:03 PM
May 11 2021, 9:31 AM
(Bloomberg) With Democrats pushing for higher taxes on the richest Americans to fund President Joe Bidenâs infrastructure and climate initiatives, hedge fund managers are taking refuge in Puerto Rico.
(Bloomberg) With Democrats pushing for higher taxes on the richest Americans to fund President Joe Bidenâs infrastructure and climate initiatives, hedge fund managers are taking refuge in Puerto Rico.
ExodusPoint Capital Management and Millennium Management have established subsidiaries on the island, according to local records. That could help portfolio managers at the firms relocate to Puerto Rico to obtain huge tax breaks an increasingly popular option now that the pandemic has made working remotely mainstream.
(Farion O/Getty Images)
At a university lecture appearance, Boston Federal Reserve president Eric Rosengren commented that the rise in inflation will be temporary, similar to the toilet-paper shortage caused by the COVID-19 pandemic.
“My view is that this acceleration in the rate of price increases is likely to prove temporary,” Rosengren said at a Boston College webinar.
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“Toilet paper and Clorox were in short supply at the outset of the pandemic, but manufacturers eventually increased supply, and those items are no longer scarce,” he said. “Many of the factors raising prices this spring are also likely to be similarly short-lived.”
Font Size: Consumer prices in the U.S. have skyrocketed across multiple industries as the federal government mulls injecting further stimulus into the economy.
“We are seeing very substantial inflation,” Warren Buffett, billionaire investor and chairman of Berkshire Hathaway, said at his company’s annual shareholder meeting Saturday, according to CNBC.
“The 100% cause of inflation is the government,” Peter Schiff, the chief economist and global strategist of Euro Pacific Capital, told the Daily Caller News Foundation. “It’s when the government spends money that it doesn’t collect in taxes.”
Consumer prices in the U.S. have skyrocketed across multiple industries as the federal government mulls injecting further stimulus into the economy.
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