The Fed already conducts tests to address vulnerability to economic or market downturns, and uses the results as a basis for financial institutions’ capital requirements
Saleha Mohsin and Christopher Condon
Treasury Secretary Janet Yellen said President Joe Biden favours boosting taxes on companies, and signalled openness to considering raising rates on capital gains, while steering clear of a wealth levy.
“A wealth tax has been discussed but is not something President Biden” favours, Yellen said at a virtual conference on Monday hosted by the New York Times. She said such a tax would have significant implementation problems.
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