The last-minute minting of a platinum coin valued at $1 trillion has been proposed as a solution to the debt ceiling crisis.
," that he and his advisers discussed use of a trillion dollar coin as a safety valve.
Treasury Secretary Janet Yellen said Tuesday in an interview with CNBC that she is"opposed" to the idea, and doesn't believe it should be considered seriously.Treasury Secretary Janet Yellen speaks during a Senate Banking, Housing and Urban Affairs Committee hearing on the CARES Act, at the Hart Senate Office Building, Sept. 28, 2021, in Washington, D.C.
"The platinum coin is equivalent to asking the Federal Reserve to print money to cover deficits that Congress is unwilling to cover by issuing debt, it compromises the independence of the Fed conflating monetary and fiscal policy, and instead of showing that Congress and the administration can be trusted to pay, to pay the country’s bills, it really does the opposite," Yellen said.
Still, some Democratic lawmakers back the idea. House Speaker Nancy Pelosi said that Rep. Jerod Nadler, D-N.Y., brought up the coin during a closed policy meeting last week as one of other"options" to prevent government default without congressional action.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
How 3 college friends built a $1 billion business selling used carsAaron Tan, Aditya Lesmana and Kelvin Chng are the brains behind Carro, a $1 billion autos marketplace and one of Southeast Asia's latest unicorns.
Lire la suite »
Now is not the time to mint $1 trillion platinum coin to avoid debt limitInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Lire la suite »
These 3 friends built a $1 billion used cars businessCNBC Make It's Karen Gilchrist spoke to Carro co-founder and CEO Aaron Tan about how he and his college friends built a billion-dollar business selling used cars, and what the road ahead has in store.
Lire la suite »
White House to spend an extra $1 billion on rapid, at-home Covid testsThe move, in addition to the FDA's recent authorization of a new rapid antigen test from ACON Laboratories, will significantly expand the nation's at-home testing capacity in the coming months.
Lire la suite »
Google to invest $1 billion in Africa over five yearsGoogle plans to invest $1 billion in Africa over the next five years to ensure access to fast and cheaper internet and will back startups to support the continent's digital transformation, it said on Wednesday.
Lire la suite »
White House to announce additional $1 billion investment in rapid, at-home Covid testsNEW: Biden admin. to announce an additional $1B purchase of rapid, at-home coronavirus tests, tripling the number of at-home tests on the market by early November, according to a White House official.
Lire la suite »