对于数字美元，鲍威尔指出，美联储数字美元可能需要国会的授权，如果任何中央银行的数字货币都能得到国会的授权，那将是On Tuesday, Federal Reserve Chairman Colin Powell and U.S. Treasury Secretary Yellen attended a hearing of the U.S. Senate Committee on Banking, Housing and Urban Affairs to explain how their agencies responded to the impact of the epidemic on the economy. Before the hearing, US stocks plummeted and the yield on the 30-year Treasury note climbed more than 10 basis points on the day.
Powell said at the meeting that the United States still has a long way to go to achieve maximum employment. The Fed has almost met the conditions for downsized bond purchases, and even if it reduces its bond purchases, it will increase easing by the middle of next year, increasing liquidity as long as the Fed is still buying bonds. Powell pointed out that the Fed has only passed the pre-retrenchment test, and the threshold for raising interest rates is much higher.
With regard to inflation, Powell said that it is necessary to ease the supply congestion before inflation falls. Inflationary pressures reflect the mismatch between supply and demand, and still believe that the current inflation will subside over time. He said that the inflation rate is high, the unemployment rate is also high, and there is still a certain link between employment and inflation.
With regard to the digital dollar, Powell pointed out that the Federal Reserve digital dollar may need the authorization of Congress, and it would be ideal if the digital currency of any central bank can be authorized by Congress.的。
It is reported that Pelosi, speaker of the US House of Representatives, said that the House of Representatives may vote on the debt ceiling issue today. But U.S. Senate Minority Leader Mitch McConnell insists he will not help on the debt ceiling.
Us Treasury Secretary Yellen said at the hearing that failure to raise the debt ceiling would be catastrophic. Failure to raise the debt ceiling could damage credibility, undermine confidence in the dollar, raise unemployment and cause market problems. The debt limit has nothing to do with future plans and is all about paying bills that have already been generated.
Yellen stressed that if Congress does not raise the debt ceiling, there will be a financial crisis and disaster. Failure to raise the debt ceiling will cause yields to soar, interest paid by Americans will rise as the cost of borrowing government bonds rises, and default will be a man-made crisis and self-inflicted damage. Nothing is more harmful to the dollar than failing to raise the debt ceiling.
Yellen was also asked about taxes. She said that some of the richest people in the United States generally pay very low taxes and that most of the wealth of the richest people is tax-free. The incremental base (Stepped-up Basis) is a circular loophole that allows the richest individuals to pay no tax on most of their income. Yellen said she supported the gradual elimination of the incremental base.
