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6/23, 8:55 PM (Source: TeleTrader)
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Yellen: Corporate tax hikes will put US among global peers

The United States Treasury Secretary spoke before the Senate Appropriations Subcommittee on Wednesday saying that the increase of corporate tax rates would put the US in the middle of global peers. She is hoping to gain endorsement of the global minimum corporate tax proposal at the G20 summit.

As for inflation, Yellen reiterated that supply chain bottlenecks have been causing a big portion of the price pressures and that once those issues are resolved the long-term inflation expectations are stable and are hovering in the neighborhood of 2%.

The annual inflation by the end of 2021 is seen below 5%, Yellen asserted. Overall, she described the economy as "on a good track", despite the "bumpy path" to recovery.

Breaking the News / LH