TSM - From Biden's Tax Proposal For Tech Giants Like Elon Musk And Jeff Bezos To Powell Sounding Optimistic Note On Economy And More: Economics Weekend Roundup | Benzinga
The past week was buzzing with significant developments, from the White House to Wall Street. President Joe Biden targeted billionaires in his State of the Union address, the Fed Chair Jerome Powell testified before the Senate Banking Committee, and several key sectors showed signs of recovery and volatility. Here’s a recap of the notable stories from the past week.
Biden’s Tax Proposal Targets Tech Titans
In his State of the Union address, President Joe Biden proposed a tax overhaul targeting the wealthiest Americans. Among those likely to be affected by the new tax code are tech giants Elon Musk, Jeff Bezos, and investor Warren Buffett. The President criticized previous tax policies that favored the top 1% and asserted that a fair tax code would help in investing in health care, education, defense, and more. Read the full article here.
Fed Chair Powell Testifies On Economic Trajectory
Returning to Capitol Hill for his second day of Senate testimony, Federal Reserve Chair Jerome Powell gave an optimistic outlook on the U.S. economy. He highlighted the Fed’s anticipation of continued strong growth, a robust labor market, and progress in reducing inflation. If these expectations hold, the Fed plans ...