Description
Added on the 12/06/2017 16:38:30 - Copyright : Wochit
US Treasury Secretary Janet Yellen meets with Chinese Vice Premier Liu He in Switzerland. Yellen said close communication between the United States and China on economic issues is vital, ahead of the meeting. IMAGES
US Treasury Secretary Janet Yellen is welcomed by Polish Prime Minister Mateusz Morawiecki on a visit to Warsaw. IMAGES
Massachusetts senator and failed Presidential candidate Elizabeth Warren lobbied Joe Biden to become his treasury secretary. In a humiliating snub heard around the political world Biden chose former FED chair Janet Yellen over Warren as his Treasury Secretary. Chris Cillizza of CNN said there are several reasons Warren will never be America's Treasury Secretary. Warren in the Cabinet would allow Mass. GOP Gov. Charlie Baker to appoint a temporary replacement for her in the Senate. Warren's vision for big structural change doesn't fit Biden's pragmatic approach. Warren would have spooked Wall Street. Warren might not get confirmed by the Senate.
Reuters Sen. Elizabeth Warren called on Joe Biden to cancel a large portion of student debt. She is pushing for it without Congress as well, reports Business Insider. "This is the single most effective executive action available for a massive economic stimulus." Warren on Twitter Warren and Sen. Schumer outlined a plan arguing the president had authority to cancel student debt. This would be done by directing the education secretary to do so. This would relieve Americans of billions of dollars in student debt and aid the US economy.
White House negotiations with Democrats over another pandemic aid bill have come to naught so far. Congress left town on Tuesday without passing another one, as virus cases surge across the nation, and the economic recovery threatens to grind to a halt. Business Insider reports that the prospect of more coronavirus aid is uncertain during a 'lame-duck session.' Such a session takes place in an even-numbered year, between the general election and the first session of the new Congress. The next deadline Congress faces is December 11. It must approve another spending bill to prevent a government shutdown. President Donald Trump supports another stimulus package. But his position has veered from cutting off relief negotiations to pressing for more money than Democrats.