Speaking after the Fed’s latest policy meeting, Jerome Powell reiterated previous statements that it was better to “get it right” than be first when it comes to a developing a central bank digital currency .
“Far more important to get it right than it is to do it fast,” said Powell.
Instead, the U.S.
Governments worldwide are desperate to raise extra revenue to rebuild their pandemic-ravaged economies and corporate taxation is becoming an obvious target after decades of decline.
Food and Drug Administration on Thursday proposed a ban on menthol cigarettes and flavored cigars, a long-awaited win for anti-smoking and civil rights groups but one that could erase a huge share of sales for the Big Tobacco.
The company recently announced new iMac models and iPad Pros with custom M1 processors, but neither product will begin shipping until the second half of May — an unusually long delay.Still, the company’s main product, the iPhone, seems unscathed at the moment.Consumers, businesses and schools have been snapping up millions of iPads and Macs for remote work, and Cook suggested on Wednesday that the momentum won’t necessarily slow down after the Covid-19 pandemic ends.
— Bank of Canada Governor Tiff Macklem said he remains committed to the central bank’s 2% inflation target, even as price pressures are expected to temporarily overshoot that goal.Macklem, in parliamentary testimony on Tuesday, cited the central bank’s long history of hitting that objective, and said he needs to worry about both upside and downside risks to its inflation outlook.The comments come after the Bank of Canada released new forecasts on April 21 that show the biggest persistent overshoot of its 2% target in at least two decades.“What can we do to assure Canadians that we will control inflation? We have a very clear mandate — we have a strong record now of 30 years of inflation targeting and we have consistently realized that objective,” Macklem told the House of Commons finance committee.At the same time, a full recovery will take time time to complete, and that will keep downward pressure on price gains, he said.Last week, Macklem justified his tolerance for above-target inflation by citing the central bank’s decision not to preemptively raise rates until the economy’s recovery from Covid-19 is complete.
Crown Prince Mohammed bin Salman said Aramco, the world’s biggest oil company which listed on the Saudi bourse in late 2019, could sell further shares including to international investors within the next year or two.
For the 2021 tax year, the child tax credit is upped from $2,000 to $3,000 per child.