1. Janet Yellen reiterates call for large stimulus package  Yahoo Finance
  2. Digital Dollar Exploration Gets Backing From Treasury Secretary Yellen  pymnts.com
  3. Yellen says to judge Biden stimulus on speed of return to pre-pandemic unemployment  Reuters
  4. Yellen Says Market for a 100-Year Treasury Bond Would Be ‘Tiny’  Bloomberg
  5. Treasury's Yellen criticizes bitcoin again as 'inefficient' and highly speculative  MarketWatch
  6. View Full coverage on Google News
Bitcoin keeps going up in value and setting records, but new U.S. Treasury Secretary Janet Yellen is not as high as investors on the leading digital...Bitcoin keeps going up in value and setting records, but new U.S. Treasury Secretary Janet Yellen is not as high as investors on the leading digital...

Treasury’s Yellen criticizes bitcoin again as ‘inefficient’ and highly speculative - MarketWatch

U.S. Treasury Secretary Janet Yellen said on Monday she will judge the success of President Joe Biden's coronavirus stimulus plan by how quickly it returns the economy to pre-pandemic levels of unemployment.U.S. Treasury Secretary Janet Yellen said on Monday she will judge the success of President Joe Biden's coronavirus stimulus plan by how quickly it returns the economy to pre-pandemic levels of unemployment.

Yellen says to judge Biden stimulus on speed of return to pre-pandemic unemployment | Reuters

Sucuri WebSite Firewall - Access Denied

Treasury Secretary Janet Yellen on Monday defended President Biden's proposal to send $1,400 direct payments to the vast majority of Americans, saying they will help people who are struggling but aren't receiving more targeted forms of assistance.Treasury Secretary Janet Yellen on Monday defended President Biden's proposal to send $1,400 direct payments to the vast majority of Americans, saying they will help people who are struggling but

Yellen: $1,400 stimulus payments would help people in 'pockets of misery' | TheHill

Treasury Secretary Janet Yellen on Monday defended President Biden's proposal to send $1,400 direct payments to the vast majority of Americans, saying they will help people who are struggling but aren't receiving more targeted forms of assistance.Treasury Secretary Janet Yellen on Monday defended President Biden's proposal to send $1,400 direct payments to the vast majority of Americans, saying they will help people who are struggling but

Yellen: $1,400 stimulus payments would help people in 'pockets of misery' | TheHill

Bloomberg - Are you a robot?

Kitco News' Features section highlights more in-depth gold market stories. You will find everything from unique jewlery trends to rare coin discoveries to sunken treasures. You can even find out how much gold is found in your iPhone! Kitco News' Features section highlights more in-depth gold market stories. You will find everything from unique jewlery trends to rare coin discoveries to sunken treasures. You can even find out how much gold is found in your iPhone!

Can crypto be taxed like gold? Is regulation the real threat to bitcoin's $1 trillion market cap? | Kitco News

Yields continue to riseYields continue to rise

Recently, US Treasury Secretary Janet Yellen made several statements, relevant to the crypto industry:Recently, US Treasury Secretary Janet Yellen made several statements, relevant to the crypto industry:

Yellen on Bitcoin, NFTs Score Another Million + More News

Yellen’s stance on BTC remains the same as the Treasury Secretary considers the asset “extremely inefficient for conducting transactions.”United States Secretary of the Treasury, Janet Yellen made a comment on digital currencies during a public event. While addressing post-Covid-19 economic recovery, Yellen stated that crypto assets could provide “faster and cheaper” options of payment. In addition, Yellen believed that digital currencies posed many issues, which she believed that the federal regulators need to […]

Crypto has issues; bitcoin is inefficient for conducting transactions, says US Treasury Secy - AMBCrypto

Treasury Secretary Janet Yellen issued a warning Monday about the dangers that bitcoin poses both to investors and the public.Treasury Secretary Janet Yellen issued a warning Monday about the dangers that bitcoin poses both to investors and the public.

Digital currencies could lead to faster, cheaper payments, but many issues need to be studied, including consumer protection, money laundering, said Janet YellenDigital currencies could lead to faster, cheaper payments, but many issues need to be studied, including consumer protection, money laundering, said Janet Yellen

US treasury secy Yellen says Bitcoin extremely inefficient for transactions, highly speculative asset

The most popular cryptocurrency on Monday fell to $47,400, a one-week low. At one point, it lost nearly 17 per cent of its value.The most popular cryptocurrency on Monday fell to $47,400, a one-week low. At one point, it lost nearly 17 per cent of its value.

Bitcoin extremely inefficient for transaction, says US Treasury Secretary Janet Yellen | Hindustan Times

Janet Yellen on Monday said bitcoin is an "extremely inefficient way of conducting transactions." The Treasury Secretary expressed concern that bitcoin isYellen expressed concerns that the cryptocurrency is used "often for illicit finance." Bitcoin pared gains on Monday after topping $58,000 on Sunday.

Janet Yellen says using bitcoin is an 'extremely inefficient' way to transact | Business Insider India

Bitcoin dropped below $50,000 on Monday, hitting its lowest level since mid-February, as investors worried that its price may have gotten too high, too fast. The world's largest cryptocurrency in terms of volume fell to as low as $47,400, its weakest in one week. At one point, it lost nearly 17% of its value, or about $160 billion from its total market capitalization. The US Treasury Secretary Janet Yellen today ripped into the world’s most famous and highest valued cryptocurrency Bitcoin as she termed it “highly speculative” and “inefficient” for transaction. Bitcoin dropped below $50,000 on Monday, hitting its lowest level since mid-February, as investors worried that its price may have gotten too high, too fast. The world's largest cryptocurrency in terms of volume fell to as low as $47,400, its weakest in one week. At one point, it lost nearly 17% of its value, or about $160 billion from its total market capitalization. The US Treasury Secretary Janet Yellen today ripped into the world’s most famous and highest valued cryptocurrency Bitcoin as she termed it “highly speculative” and “inefficient” for transaction.

Bitcoin hits lowest since mid-Feb, falls below $50k; Yellen calls the cryptocurrency highly speculative - The Economic Times Video | ET Now

Bitcoin dropped below $50,000 on Monday, hitting its lowest level since mid-February, as investors worried that its price may have gotten too high, too fast. The world's largest cryptocurrency in terms of volume fell to as low as $47,400, its weakest in one week. At one point, it lost nearly 17% of its value, or about $160 billion from its total market capitalization. The US Treasury Secretary Janet Yellen today ripped into the world’s most famous and highest valued cryptocurrency Bitcoin as she termed it “highly speculative” and “inefficient” for transaction.

Bitcoin hits lowest since mid-Feb, falls below $50k; Yellen calls the cryptocurrency highly speculative - The Economic Times Video | ET Now

The crypto coin takes a bit of a stumble after a long rally.The crypto coin takes a bit of a stumble after a long rally.

Bitcoin drops after Musk tweet, Yellen warns it's 'extremely inefficient' - CNET

Cryptocurrencies could succeed if properly studied, but bitcoin is a highly speculative and inefficient asset, said US Treasury Secretary Janet Yellen.Cryptocurrencies could succeed if properly studied, but bitcoin is a highly speculative and inefficient asset, said US Treasury Secretary Janet Yellen.

US Secretary of Treasure Yellen Says Bitcoin is Inefficient for Transactions

Cryptocurrencies could succeed if properly studied, but bitcoin is a highly speculative and inefficient asset, said US Treasury Secretary Janet Yellen.Cryptocurrencies could succeed if properly studied, but bitcoin is a highly speculative and inefficient asset, said US Treasury Secretary Janet Yellen.

US Secretary of Treasure Yellen Says Bitcoin is Inefficient for Transactions

Yellen critiqued Bitcoin’s energy impact and utility while remarking that the Fed is right to pursue its research into CBDCs.Yellen critiqued Bitcoin’s energy impact and utility while remarking that the Fed is right to pursue its research into CBDCs.

Janet Yellen critiques Bitcoin as 'extremely inefficient' for making transactions

Treasury Secretary Janet Yellen has ramped up her criticism of Bitcoin during its extremely volatile dayTreasury Secretary Janet Yellen has ramped up her criticism of Bitcoin during its extremely volatile day

Bitcoin Tanks to $47K as Janet Yellen Calls It "Extremely Inefficient"

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(Bloomberg) -- U.S. Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell appear wary of signs of froth in financial markets, even as they press ahead with economic stimulus measures that are elevating the euphoria.There “may be sectors where we should be very careful,” Yellen told CNBC television last week, when asked about possible speculative sizzle.The remarks came a day after publication of minutes of the Fed’s Jan. 26-27 policy meeting at which staff characterized the risks to financial stability as notable – an assessment Powell shares, according to a central bank official familiar with the matter.The policy makers face a difficult dilemma. While they recognize that ultra-lax economic policies can fuel financial excesses, they believe the pandemic-damanged economy is in a deep hole and in need of substantial help.Both have recently suggested that the true unemployment rate is close to 10%, after taking account of those who have dropped out of the workforce or are involuntarily working part-time, compared with the official figure of 6.3%.Compounding their quandary: The U.S. has fewer regulatory tools to head off asset bubbles and excessive leverage than many other countries.Follow the Aspen Institute’s RE$ET Conference with Bloomberg Economics hereYellen spoke out in favor of President Joe Biden’s $1.9 trillion fiscal aid package again on Monday, telling a New York Times webinar that the spending was needed to prevent long-term scarring of the economy from the pandemic. Powell, for his part, is expected to reaffirm his commitment to an ultra-easy monetary policy when he testifies to the Senate Banking Committee on Tuesday.While stock prices pulled back on Monday as yields on Treasury securities rose, the S&P 500 index is still trading near a record high, up some 75% from lows struck last March. Yields on the riskiest corporate bonds fell below 4% for the time ever earlier this month. And even after a big decline on Monday, cryptocurrency Bitcoin is still up significantly this year.Asset prices could get a further boost if Congress passes Biden’s aid plan, which includes $1,400 in stimulus checks for many Americans, said former Congressional Budget Office Director Douglas Holtz-Eakin, who is now president of the American Action Forum in Washington.“With investors betting on persistent policy backstop, a sense of complacency appears to be permeating markets,” was how International Monetary Fund officials Tobias Adrian and Fabio Natalucci described the situation in a Jan. 27 blogpost.They warned of a rising risk of an economically destabilizing nose-dive in financial markets, perhaps in reaction to a persistent increase in long-term interest rates.Rising YieldsSuch a rise may already be in train. The yield on the 10-year Treasury note was trading around 1.35% on Monday in New York from 1.07% at the start of the month, on expectations of higher inflation and a stronger economy. Bloomberg Economics last week boosted its 2021 growth forecast to 4.6% from 3.5% and said that could rise toward 6%-7% if Biden’s stimulus package is enacted.Powell in the past has flagged the dangers that excessively elevated asset prices and other financial vulnerabilities can pose to the economy.In 2007, it was the bursting of a housing market bubble that drove the economy into what then was the deepest downturn since the Great Depression. In 2001, it was a collapse in technology stock prices that helped lead to a recession, although it was a mild one by historic standards.Yellen told the New York Times webinar that big banks are in much better shape now than they were during the financial crisis more than a dozen years ago -- a point that Powell has also repeatedly made.The two policy makers have also argued that recent lofty asset prices are at least partially justified by the continued low level of interest rates.While that’s undoubtedly true, cheap credit can also induce investors to take on more leverage and more risk to boost their returns, pushing prices up to eventually unsustainable levels.‘Hard to Tell’“That’s what makes it hard to tell what’s an asset bubble and what’s fundamental because they’re both pointing in the same direction,” said former Fed Vice Chairman Alan Blinder.When she headed the central bank, Yellen maintained that the first line of defense against financial stability risks should be tighter regulation, through the use of so-called macro-prudential tools, rather than through increased borrowing costs and higher interest rates.That’s precisely the prescription espoused by IMF officials Adrian and Natalucci. They argue that now is not the time for policy makers to pull back on support for economies still struggling with Covid-19. Rather, officials should aim to safeguard financial stability via increased supervision and regulation of banks and other financial institutions.The trouble, said Princeton University professor Blinder, is that the Fed doesn’t have much in the way of macro-prudential tools to help bring that out. Unlike the Bank of England, for instance, it can’t order banks to require home buyers to put more money down as collateral when taking out mortgage loans if it’s worried about a bubble developing in the housing market.Powell has recently tried to make a virtue out of that deficiency. He’s argued that policy makers often get the timing of such restrictions wrong. And he’s talked up the U.S. template of strict supervision throughout the economic cycle as a viable alternative.As Treasury secretary and thus head of the government-wide Financial Stability Oversight Council, Yellen will have an opportunity to build up U.S. defenses against excessive financial speculation and leverage.In that capacity, “I would encourage her to think about where there are holes” in the financial system, former White House chief economist Glenn Hubbard told a Tax Policy Center webinar on Feb. 18.“I don’t see a crisis around the corner,” the Columbia University professor added. But “if you keep interest rates very low for a long period of time you need to watch out for froth.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.(Bloomberg) -- U.S. Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell appear wary of signs of froth in financial markets, even as they press ahead with economic stimulus measures that are elevating the euphoria.There “may be sectors where we should be very careful,” Yellen told CNBC television last week, when asked about possible speculative sizzle.The remarks came a day after publication of minutes of the Fed’s Jan. 26-27 policy meeting at which staff characterized the risks to financial stability as notable – an assessment Powell shares, according to a central bank official familiar with the matter.The policy makers face a difficult dilemma. While they recognize that ultra-lax economic policies can fuel financial excesses, they believe the pandemic-damanged economy is in a deep hole and in need of substantial help.Both have recently suggested that the true unemployment rate is close to 10%, after taking account of those who have dropped out of the workforce or are involuntarily working part-time, compared with the official figure of 6.3%.Compounding their quandary: The U.S. has fewer regulatory tools to head off asset bubbles and excessive leverage than many other countries.Follow the Aspen Institute’s RE$ET Conference with Bloomberg Economics hereYellen spoke out in favor of President Joe Biden’s $1.9 trillion fiscal aid package again on Monday, telling a New York Times webinar that the spending was needed to prevent long-term scarring of the economy from the pandemic. Powell, for his part, is expected to reaffirm his commitment to an ultra-easy monetary policy when he testifies to the Senate Banking Committee on Tuesday.While stock prices pulled back on Monday as yields on Treasury securities rose, the S&P 500 index is still trading near a record high, up some 75% from lows struck last March. Yields on the riskiest corporate bonds fell below 4% for the time ever earlier this month. And even after a big decline on Monday, cryptocurrency Bitcoin is still up significantly this year.Asset prices could get a further boost if Congress passes Biden’s aid plan, which includes $1,400 in stimulus checks for many Americans, said former Congressional Budget Office Director Douglas Holtz-Eakin, who is now president of the American Action Forum in Washington.“With investors betting on persistent policy backstop, a sense of complacency appears to be permeating markets,” was how International Monetary Fund officials Tobias Adrian and Fabio Natalucci described the situation in a Jan. 27 blogpost.They warned of a rising risk of an economically destabilizing nose-dive in financial markets, perhaps in reaction to a persistent increase in long-term interest rates.Rising YieldsSuch a rise may already be in train. The yield on the 10-year Treasury note was trading around 1.35% on Monday in New York from 1.07% at the start of the month, on expectations of higher inflation and a stronger economy. Bloomberg Economics last week boosted its 2021 growth forecast to 4.6% from 3.5% and said that could rise toward 6%-7% if Biden’s stimulus package is enacted.Powell in the past has flagged the dangers that excessively elevated asset prices and other financial vulnerabilities can pose to the economy.In 2007, it was the bursting of a housing market bubble that drove the economy into what then was the deepest downturn since the Great Depression. In 2001, it was a collapse in technology stock prices that helped lead to a recession, although it was a mild one by historic standards.Yellen told the New York Times webinar that big banks are in much better shape now than they were during the financial crisis more than a dozen years ago -- a point that Powell has also repeatedly made.The two policy makers have also argued that recent lofty asset prices are at least partially justified by the continued low level of interest rates.While that’s undoubtedly true, cheap credit can also induce investors to take on more leverage and more risk to boost their returns, pushing prices up to eventually unsustainable levels.‘Hard to Tell’“That’s what makes it hard to tell what’s an asset bubble and what’s fundamental because they’re both pointing in the same direction,” said former Fed Vice Chairman Alan Blinder.When she headed the central bank, Yellen maintained that the first line of defense against financial stability risks should be tighter regulation, through the use of so-called macro-prudential tools, rather than through increased borrowing costs and higher interest rates.That’s precisely the prescription espoused by IMF officials Adrian and Natalucci. They argue that now is not the time for policy makers to pull back on support for economies still struggling with Covid-19. Rather, officials should aim to safeguard financial stability via increased supervision and regulation of banks and other financial institutions.The trouble, said Princeton University professor Blinder, is that the Fed doesn’t have much in the way of macro-prudential tools to help bring that out. Unlike the Bank of England, for instance, it can’t order banks to require home buyers to put more money down as collateral when taking out mortgage loans if it’s worried about a bubble developing in the housing market.Powell has recently tried to make a virtue out of that deficiency. He’s argued that policy makers often get the timing of such restrictions wrong. And he’s talked up the U.S. template of strict supervision throughout the economic cycle as a viable alternative.As Treasury secretary and thus head of the government-wide Financial Stability Oversight Council, Yellen will have an opportunity to build up U.S. defenses against excessive financial speculation and leverage.In that capacity, “I would encourage her to think about where there are holes” in the financial system, former White House chief economist Glenn Hubbard told a Tax Policy Center webinar on Feb. 18.“I don’t see a crisis around the corner,” the Columbia University professor added. But “if you keep interest rates very low for a long period of time you need to watch out for froth.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

Yellen and Powell Wary of Financial Froth While They Push Stimulus