In comments made on Monday morning,
Fed Chair Treasury Secretary Janet Yellen set the stage for several exciting new initiatives, including a higher corporate tax, potentially higher capital gains taxes, yield curve control… oh and a digital dollar.
Yellen came out in favor of boosting corporate taxes and said she was also open to raising capital gains taxes, during a Monday conference hosted by the New York Times.
Perhaps most notable was Yellen’s reaffirmation that it “makes sense” for the Fed to look into the idea of a digital dollar – comments that potentially played a role in bitcoin’s early morning selloff which briefly saw the cryptocurrency crash 15% and fall under $50,000. The price has since risen back above $50,000 despite additional comments from Yellen that bitcoin was “inefficient”.