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IRS update offers boost to millions of taxpayers

newsweek.com The Internal Revenue Service (IRS) announced on Wednesday that its program allowing taxpayers to file their taxes online for free, Free File, will be extended by five more…

Walmart, Target Unleash Price-Cut Tsunami As Working-Poor Hit Brick-Wall

zerohedge.com Walmart, Target Unleash Price-Cut Tsunami As Working-Poor Hit Brick-Wall Some of the nation's largest retailers are rolling back prices in response to low-income consumers…

Why Biden's almost 100% capital gains tax increase would crush the stock market

foxbusiness.com Many Americans still don’t realize that we have a bifurcated tax system. One tax table is focused on taxing Americans on their ordinary income, the income you earn from your…

The Root Causes Of Financial Instability

econlib.org The consensus view is that the Great Recession of 2008-09 was caused by financial instability. I believe that view is wrong, and wrote an entire book arguing that it was…

With Ukraine losing ground, allies debate how to squeeze cash for Kyiv out of frozen Russian assets

apnews.com Ukraine's allies are wrestling with how to squeeze money out of frozen Russian assets to support Kyiv's war effort, a debate that is ever more urgent as Russia gains…

SEC's Gensler Going Rogue in Solo Quest to Stop U.S. Crypto Legislation?

coindesk.com Gensler, in a statement he issued against the Financial Innovation and Technology for the 21st Century Act (FIT21) on Wednesday – as the bill heads toward a vote that's…

Would America dare to bring down a Chinese bank?

economist.com If any politician has the demeanour to ease tensions with Beijing, it is Janet Yellen. America’s treasury secretary comes across as a twinkly eyed professor, rather than a…

Reaganomics Is on Its Last Legs

theatlantic.com Democrats and Republicans don’t agree on much, but for a long time, they agreed on this: the more free trade, the better. Now they agree on the opposite: Free trade has gone…

Why Biden’s almost 100% capital gains tax increase would crush the stock market

finance.yahoo.com Many Americans still don’t realize that we have a bifurcated tax system. One tax table is focused on taxing Americans on their ordinary income, the income you earn from your…

Brazil, France, Spain, Germany and S. Africa Push To Tax Billionaires 2% Yearly; US Says No

ibtimes.co.uk Treasury Secretary Janet Yellen's recent declaration that the US opposes the proposal for a global wealth tax on billionaires marks a significant development in the…

G7 Ministers Seek Agreement on Russian Assets, Chinese Exports

asiafinancial.com Russian assets and Chinese exports will be the two key topics when G7 finance chiefs meet in Italy this week. The ministers are hoping to find common ground on how to use…

What exactly is the national security argument here?

marginalrevolution.com Janet Yellen, the US treasury secretary, has urged the EU to intervene urgently to dampen the growing export levels of Chinese cut-price green technology including solar…

Yellen Threatens German Banks With Sanctions; EU Approves Using Russian Asset Profits For Ukraine's Defense

zerohedge.com Yellen Threatens German Banks With Sanctions; EU Approves Using Russian Asset Profits For Ukraine's Defense In a rare moment of tensions among allies, US Treasury Secretary…

EU Approves $3.5B In Frozen Russian Assets For Ukraine: Janet Yellen Has A Plan To Increase Amount By Over 10X

benzinga.com Frozen Russian assets are beginning to flow into Ukraine this year, with two parallel initiatives that are gaining widespread support in Europe and the U.S. amid the ongoing…

The Biden Campaign Calls Bullshit on Team Trump’s Excuse for That “Unified Reich” Video

vanityfair.com Twelve hours after Donald Trump’s Truth Social account shared a video suggesting that the ex-president will rule over “a unified reich,” a spokesperson for the former guy…

Trump’s new trade war would cost middle-class families at least $1,700 a year, report warns

amp.cnn.com Former President Donald Trump’s trade agenda amounts to a tripling-down of the trade war he waged during his first term in office. Not only has Trump called for a 60% tariff…

Janet Yellen urges EU to join US in curbs on cheap Chinese exports

theguardian.com Janet Yellen, the US treasury secretary, has urged the EU to intervene urgently to dampen the growing export levels of Chinese cut-price green technology including solar…

U.S. and Europe must respond jointly to China’s industrial overcapacity, Yellen says

theglobeandmail.com U.S. Treasury Secretary Janet Yellen said on Tuesday that the United States and Europe needed to respond to China’s industrial policies in a “strategic and united way” to…

US, EU Must Act Jointly on China’s Industrial Overcapacity: Yellen

asiafinancial.com The United States and Europe must stage a “strategic and united” response to China’s industrial policies so local manufacturers can survive, the US Treasury Secretary said…

Yellen says U.S. wants to diversify, not decouple, from China

marketwatch.com Treasury Secretary Janet Yellen said the U.S. is trying to diversify but not decouple from China, a week after a series of new tariffs were introduced.

Trump's Potential Pick For Treasury Secretary Says 'Markets Like His Policies Better'

benzinga.com Scott Bessent, CEO of Key Square Group and a potential nominee for Trump's Treasury Secretary, shared his insights on market preferences ahead of the 2024 election. What…

Yellen says threats to democracy risk US economic growth, an indirect jab at Trump

click2houston.com WASHINGTON – Treasury Secretary Janet Yellen argues that a fractured democracy can have destructive effects on the economy — an indirect jab at Donald Trump. Yellen…

'We're not about to fold': Janet Yellen says efforts are underway to package a $50 billion loan to Ukraine using frozen Russian funds

aol.com None Janet Yellen told The New York Times that G7 leaders will discuss the details of a loan program for Ukraine. • None The loan would use proceeds from Russia's frozen…

We're not about to fold': Janet Yellen says efforts are underway to package a $50 billion loan to Ukraine using frozen Russian funds

businessinsider.com Treasury Secretary Janet Yellen. Chip Somodevilla/Getty Images Janet Yellen told The New York Times that G7 leaders will discuss the details of a loan program for Ukraine.…

How Biden is winning over corporate America behind closed doors

cnbc.com President Joe Biden has had it out for corporate America for much of his term. Over the past three years, he has worked to dethrone the interests of big businesses and…

Why Biden won’t beat China by out-Trumping Trump on trade tariffs

scmp.com Why would Biden think doubling down on this approach is a good idea with US inflation already stubbornly high? And all this as the White House says it is pursuing a reboot…

Morning Bid: China clouds darken market mood

investing.com A look at the day ahead in Asian markets. Broadly speaking, the global backdrop for Asian markets is still bright, with investors confident that the Fed will soon cut U.S.…

America wants cheap EVs, unless they come from China

marketplace.org Tariff déja vu. President Joe Biden announced new tariffs on $18 billion worth of imports from China this week, including electric vehicles, solar cells and semiconductors.…

The ‘X Date’ is when the U.S. runs out of cash

aol.com When politicians were battling over the debt ceiling last summer, many Americans believed Congress wouldn't let the country run out of cash and default. After all, both…

How Biden wants China to revamp its growth strategy

axios.com Biden administration officials fear an economic threat from China is looming — that the global superpower is using the same tactics to boost its economy that proved…

The ‘X Date’ is when the U.S. could run out of cash

fortune.com When politicians were battling over the debt ceiling last summer, many Americans believed Congress wouldn’t let the country run out of cash and default. After all, both…

Putin-Xi bromance gets new lease of life

newsweek.com Russian President Vladimir Putin was welcomed on a red carpet Thursday by his Chinese counterpart Xi Jinping, accompanied by a military band and flag-waving children. The…

Pro-XRP Lawyer John Deaton Blasts Warren and SEC Over Crypto Regulation

coingape.com John Deaton, a prominent pro-XRP lawyer, has issued a strong critique of the SEC and Senator Elizabeth Warren, accusing them of prioritizing political agendas over investor…

Congressional Democrats Urge IRS to Expand Free Direct File Tax-Prep Program

barrons.com Direct File, the IRS’ free online tax-preparation program that was launched on a limited pilot basis this year, has won lots of fans among Democratic lawmakers. More than…

China Shrugs as Biden’s New Tariffs Seen as Election Ploy

asiafinancial.com China’s less than ferocious response to the US’s latest raft of trade tariffs on a whole host of its goods, is being read as a sign of a new emerging self-confidence in…

Lawmakers urge financial regulators to take action on banking discrimination

thehill.com A group of Democratic lawmakers in the House and Senate are calling on heads of the Treasury Department, Federal Reserve Board and other financial regulators to ensure…

US Lawmakers Urge Treasury Action on Russian Crypto Exchange Sanctions Evasion

news.bitcoin.com U.S. Congressman Gabe Amo (D-RI), along with Congressmen Brad Sherman (D-CA) and Gerald E. Connolly (D-VA), sent a letter to U.S. Treasury Secretary Janet Yellen regarding…

Toxic Atmosphere At FDIC Spurs Calls For Chair's Resignation

zerohedge.com Toxic Atmosphere At FDIC Spurs Calls For Chair's Resignation Authored by Philip Wegmann via RealClearPolitics, The White House did not offer their full faith and credit to…

The problem of sticky inflation resides with housing, Fed’s Goolsbee says

marketplace.org The Bureau of Labor Statistics reported today that the April consumer price index clocked in at 3.4% year over year and rose 0.3% from March, a lower rate than in the…

Biden cranks up the heat on China with wall of tech tariffs

theregister.com The Biden administration's Chinese tariff hikes were formally announced on Tuesday including, among other items, a doubling on semiconductors and solar cells and a more than…

Inflation Intensifies with Sharp Increase in PPI

tftc.io The Bureau of Labor Statistics (BLS) recently disclosed their April producer price index (PPI) figures, indicative of the inflationary pressures faced by domestic producers.…

Binance just got an internal watchdog

dlnews.com Citigroup had one. So did Wells Fargo, Deutsche Bank, and Credit Suisse. Now Binance has one, too. Changpeng Zhao may have created his cryptocurrency exchange to usher in a…

U.S. tariffs on $18 billion of goods aren't phasing China

fastcompany.com China’s measured response to the U.S. move to hike tariffs on $18 billion of Chinese goods from syringes to batteries suggests relations between the world’s two largest…

Social Security benefits report reveals changes are coming

thestreet.com A report recently released by the Social Security and Medicare Boards of Trustees confirmed last year's findings that a key trust fund will be exhausted in 2033. But that…

Biden orders Wyoming cryptocurrency miner MineOne Partners Ltd to sell off ownership over ties to China

courthousenews.com The action targets a company operating within one mile of an Air Force base that controls nuclear-armed intercontinental ballistic missiles. WASHINGTON (CN) — President Joe…

"We Need To Deal With The Debt"

zerohedge.com "We Need To Deal With The Debt" - Goldman CEO Warns Interest Costs On America's Ballooning Borrowings Means "Issues Down The Road" Authored by Tom Ozimek via The Epoch Times…

Treasury Secretary Yellen on why Biden is targeting Chinese manufacturing with new tariffs

pbs.org President Biden announced a series of major tariffs on several Chinese imports. The world's two largest economic superpowers are colliding over the future of electric…

Binance’s Changpeng Zhao sentenced to four months for breaking US banking law

dlnews.com Binance co-founder Changpeng Zhao, better known as “CZ,” was sentenced to four months in federal prison Tuesday for violating US banking laws. Under Zhao, Binance failed to…

Biden hikes tariffs on Chinese chips, critical minerals, EVs

financialpost.com “Today, we serve our statutory goal to stop the PRC’s harmful technology transfer-related acts, policies, and practices, including its cyber intrusions and cyber theft,”…

Biden Bans Chinese-Controlled Crypto Mining Near US Military Base

cryptopotato.com United States President Joe Biden has shut down a Chinese-based cryptocurrency mining firm and banned it from acquiring land close to a Wyoming nuclear missile base.…

Biden Administration Quadruples Tariffs on Chinese EVs

tftc.io The Biden administration announced on Tuesday its decision to quadruple the tariff on electric vehicles (EVs) imported from China from the current 25 percent to 100 percent…

Biden tells YF he expects China to retaliate to new tariffs. Here's what that might look like

aol.com China appears to still be weighing how it will respond to sweeping new tariffs on Chinese imports, but Joe Biden told Yahoo Finance that a retaliation is likely coming. "I…

Biden says new tariffs will protect US industries from firms subsidised by China

scmp.com “For years the Chinese government has poured state money to Chinese companies across a whole range of industries … pushing Chinese companies produce far more than the rest…

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