Stocks Sink On Yellen's $2.5 Trillion Tax Reclamation Plan, Fed Warnings Over "Excess & Imbalances"
by Tyler Durden Wednesday, Apr 07, 2021 - 11:52 AM Stocks just got hit with a double-whammy of hawkishness as Fed's Kaplan threatened to withdraw accommodation as the pandemic ends and Treasury's Yellen unveiled a plan to grab back $2.5 trillion in taxes from corporations. Last week he opined that: “I’m concerned about excess risk-taking and if that excess risk-taking goes too far, whether it creates excesses and imbalances, that could ultimately create challenges,” This week he reiterated that fear and went further as stocks began to slip around 1115ET when Fed's Kaplan warned: "I do w...