(US) Treasury Sec Yellen: we must control the pandemic so the economy returns to normal; stimulus needs to ensure people's lives, livelihoods are not permanently scarred by COVID - NY Times conf comments

(US) Treasury Sec Yellen: we must control the pandemic so the economy returns to normal; stimulus needs to ensure people's lives, livelihoods are not permanently scarred by COVID - NY Times conf comments - 

- Success would be return to pre-pandemic employment levels
지금 상황에서는 이 문장이 가장 핵심인 것 같습니다.
앞으로 시장은 얼마나 잘 Tapering 을 해서 나오느냐에 대한 것에
집중을 하게 될 것입니다. 과연 연준 의장은 버냉키와 옐렌이 저지른 실수를 반복하지 않을 수 있을까요? 

- Economy still has pockets of pain beyond targeted aid; $1,400 economic impact payments will help those pockets of misery; sending $1,400 widely is better than narrow targeting

- Not spending enough in the last economic downturn took a fiscal toll

- Market for 100-year bond would probably be very tiny but Treasury is moving to longer-term debt; issuing longer-term securities seems to make some sense

- US interest payments as a share of GDP are currently at 2007 levels

- A financial transaction tax (FTT) is worth looking at; FTT could be beneficial but could also have negative impacts - A wealth tax would have difficult implementation issues; Pres Biden is committed to not raising taxes on those earning less than $400K

- Capital gains tax might be worth considering

- Makes sense for Fed to study a digital dollar currency; could lead to faster and cheaper payments but many issues need to be studied including consumer protection and money laundering

- Bitcoin is often used for illicit finance; Bitcoin is extremely inefficient for conducting transactions and is a highly speculative asset; people should beware - Source TradeTheNews.com

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