Treasury Secretary Janet Yellen is urging a skeptical business community to support corporate-tax increases to help pay for the administration’s proposed US$2.25 trillion investment in the nation’s infrastructure, touting greater profits.
The S&P/TSX Composite Index closed at an all-time high yesterday after three straight days of gains.
President Joe Biden’s income fell dramatically to US$607,336 in 2020 as he dropped lucrative speaking engagements to campaign for the White House, but he still earned enough to pay the higher tax rates he’s proposed for wealthy people.
The surge in commodities prices is failing to trigger some of the traditional responses in bonds and currencies.
Federal Reserve Vice Chair Richard Clarida said the weaker-than-expected U.S. jobs report showed the economy had not yet reached the threshold to warrant scaling back the central bank’s massive bond purchases.
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