Biden Administration

Treasury Secretary Janet Yellen said President Joe Biden favors boosting taxes on companies, and signaled openness to considering raising rates on capital gains, while steering clear of a wealth levy.

The operating environment is dramatically different than it was pre-pandemic and presents all-new challenges for financial institutions. Tried-and-true strategies that led to high performance for many years are no longer going to be successful. Join Bonnie McGeer, Executive Editor of American Banker, and Claude Hanley, Partner at Capital Performance Group, as they highlight important trends and comb through data from top-performing banks across the country for insights that will help regional and community financial institutions thrive in 2021. Executives will learn what metrics will be most critical to focus on to maintain high performance going forward.

Howard Cure of Evercore and Maria Doulis, formerly of the Citizens Budget Commission, explore New York City's fiscal variables amid the pandemic. Paul Burton hosts. (30 minutes). Recorded Jan. 26.

Federal Reserve Chair Jerome Powell says he has nothing but affection for his work, suggesting that the 68-year-old central banker could be open to a second term if asked.

Economist Lisa Cook has the backing of several key White House officials and allies outside the administration as a possible choice for President Joe Biden in filling a vacancy on the Federal Reserve Board of Governors, according to people familiar with the matter.

Local governments would get 40% of the $350 billion in direct federal aid to state and local governments.

More than 30 finance chiefs of major U.S. cities sent a letter to the Biden Administration making their case for direct aid and new borrowing tools

Tom Kozlik of Hilltop Securities examines variables related to President Biden's first-stage rescue package, including market reaction, state-local aid and vaccine rollout. Paul Burton hosts; Recorded Jan. 27. (19 minutes).

President Joe Biden plans to name New York Federal Reserve markets chief Daleep Singh to serve as deputy national security adviser, a move the White House says reflects a commitment to prioritizing U.S. workers in foreign policy.

The coronavirus emergency spending bill enacted by Congress in December included a provision enhancing the Low-Income Housing Tax Credit so it’s a true 4%.

Come away better prepared for what’s ahead after hearing Satish Kini and David Sewell of Debevoise & Plimpton and Darin Jarrett, Deputy BSA/AML Officer at American Express, in conversation with Bonnie McGeer, Executive Editor of American Banker, as they explore: •How the new administration might change the BSA/AML Act •Are there easy wins in relieving the burden of suspicious activity reports without undermining effectiveness? •New ways that companies are innovating within AML compliance and risk •What banks are doing to drive next-gen efficiency and effectiveness of risk and compliance

The $350 billion direct aid would be only about one-third of the $900 for state and local governments that the House passed last year and the Senate blocked.

This is the first time a coalition representing the buy-side, sell-side and others on the business side of public finance will lobby for specific municipal bond provisions on the Hill.

The SSI debate is expected to highlight an array of other federal safety-net benefits that residents of Puerto Rico are denied.

While no FOMC action on monetary policy is expected, markets are watching for how the Federal Reserve partners with the Biden administration and how it reacts to the 10-year Treasury yield rising from 0.52% on Aug. 4 to 1.15% on Jan. 14.

Liang, a senior fellow at the Brookings Institution, would take a position that has been vacant since 2014.

The incoming administration chose a battle-tested policymaker who can draw on her nearly two decades at the Fed to help rebuild an economy still struggling from the coronavirus pandemic.