一文看懂耶伦表态：美股忧虑缓解，比特币行情到头？

华尔街见闻2021-02-23

2月22日周一，美国财长耶伦参加了纽约时报组织的线上活动，在这场信息量巨大的讨论中，她提到了美国债务问题、对比特币的看法、以及市场高度关注的公司税问题。耶伦认为，在当前低利率环境中，债务占GDP比重这种评估债务的传统指标已不太重要，更重要的指标是联邦债务利息占GDP比重，这在当前约为2%，没有高于2007年的水平。耶伦称，可以通过经济更强劲的增长来部分收回债务成本。她赞成提高公司税，以支付拜登...

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阿麦小乔
2021-02-23
阿麦小乔
[捂臉] [捂臉]
开心老男
2021-02-23
开心老男
利德稅嗎
熊也赚钱
2021-02-23
熊也赚钱
看來特斯拉一定會受此影響，馬斯特不該買比特幣
看看叫
2021-02-23
看看叫
Yellen, u and Biden suck

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href=https://wallstreetcn.com/articles/3620960>华尔街见闻</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n2月22日周一，美国财长耶伦参加了纽约时报组织的线上活动，在这场信息量巨大的讨论中，她提到了美国债务问题、对比特币的看法、以及市场高度关注的公司税问题。\n耶伦认为，在当前低利率环境中，债务占GDP比重这种评估债务的传统指标已不太重要，更重要的指标是联邦债务利息占GDP比重，这在当前约为2%，没有高于2007年的水平。耶伦称，可以通过经济更强劲的增长来部分收回债务成本。\n她赞成提高公司税，以支付拜登...\n\n<a href=\"https://wallstreetcn.com/articles/3620960\">Source 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tax）。\n耶伦认为，用比特币进行交易是一种“极其低效的方式”，处理这些交易所消耗的能源惊人。比特币还是一种“高度投机的资产”，数字货币可能会带来更快速和更便宜的支付体验，“但有许多问题需要研究，包括消费者保护和反洗钱”。\n这一批评导致比特币在美股盘初一度大跌超17%并跌破4.8万美元。\n与此同时，她表示美联储研究发行数字美元货币很有意义，由美联储维持并基于区块链的数字美元“可能会导致更快、更安全和更便宜的付款方式”。\n白宫稍早表示，美国总统拜登将在周五听取耶伦作简报。\n不要看债务占GDP的比重\n耶伦表示，她评判经济复苏的成功标准是，失业率重回疫情前水平的快慢，特别是服务业失去工作的人们再就业的程度，“我们需要确保在这场危机中受伤最深的人不会遭遇永久伤害”。\n与美联储主席鲍威尔的观点一致，耶伦也认为美国当前有效失业率接近10%，主要由于疫情期间因育儿责任导致400万人退出了劳动力市场。\n当然，如果只看名义数据，1月非农失业率为6.3%，正在趋近于疫情前充分就业的水平3.5%。\n她称，财长的关键任务之一是确保美国财政状况良好，但有鉴于美国从2008年次贷危机中的长期缓慢复苏，“如果联邦政府未能花费必要的资金使经济快速回到正轨，那将对美国的财政稳健性造成损害、产生财政成本”，向民众发放现金支票的效果要好于在经济衰退时实施财政政策。\n她认为，在当前非常低的利率环境中，评估债务的传统指标（例如美国公共债务占GDP比重）已不太重要，更重要的指标是联邦债务利息占GDP比重，当前约为2%，没有高于2007年的水平。耶伦称，可以通过拥有更强大的经济来部分收回债务成本：\n\n由于利率环境的原因，我认为我们拥有比以往更多的财政空间，应该考虑使用它。\n\n赞成提高公司税，不赞同富人税\n耶伦曾在上周表示，需要采取税收措施，以支付拜登政府的长期经济重建计划，并帮助解决国会对债务可持续性的担忧。\n周一她称，拜登政府主张提高公司税率至28%，愿意考虑提高资本利得率，同时避免征收财富税（wealth tax），“已经讨论过财产税，但拜登总统并不赞成”，这类税收将面临严重的执行问题。\n耶伦还表示，金融交易税也值得研究，但不得不仔细审视对普通投资者的影响，可能存在不利的一面。\n被问及美国会否利用低利率环境发行100年期的“世纪债券”时，耶伦既称对100年期美国政府债券的市场需求可能很小，流动性会很清淡，同时也没有排除考虑发行这种证券，“发行长期证券当然似乎是有道理的”，美国财政部可能会再次研究超长债券的潜力，目前最长国债是30年期。\n比特币是极其低效的交易方式\n耶伦称，她不认为比特币正被广泛用作交易机制，而且用比特币进行交易是一种“极其低效的方式”，处理这些交易所消耗的能源惊人。\n她认为，比特币还是一种“高度投机的资产”，数字货币可能会带来更快速和更便宜的支付体验，“但有许多问题需要研究，包括消费者保护和反洗钱”。\n她表示，美联储研究发行数字美元货币很有意义，由美联储维持并基于区块链的数字美元“可能会导致更快、更安全和更便宜的付款方式”。\n当然，仍有一些问题需要首先解决，例如对银行系统会有什么影响？是否导致大量存款从银行流入美联储？ 美联储是同零售端客户直接打交道，还是尝试以批发的方式这样做？是否存在金融稳定性问题？ 如何处理洗钱和非法融资问题？她称：“有很多事情需要考虑，但是值得一看。”\n值得注意的是，欧洲央行行长拉加德对比特币持有类似负面态度。两周前的2月11日，她公开表示，全球主要央行在不久将来持有比特币作为储备货币的可能性非常小，比特币并不是真正的货币。她还曾在1月时呼吁对加密货币进行更多监管，称比特币已被用于洗钱等非法业务。\n同时，拉加德也暗示了推出数字欧元的可能性。她称，新冠疫情已促使经济体加快数字化的采用速度，并且可能会在大约四年内准备好数字欧元货币。\n关注GME的爆炒\n在谈及散户爆炒游戏驿站（GME）等个股时，耶伦称需要了解此事的详情，美国证券交易委员会（SEC）正在准备一份报告，可以为潜在的监管行动提供依据：\n\n 一个非常重要的问题是，投资者是否充分了解情况并受到保护？现在下结论还为时过早。重要的是要公平对待散户投资者，让他们有机会在市场上交易。\n\n她还表示，气候变化将成为美国财政部的一个新关注重点，该部门可能会通过美联储或其他监管机构牵头，帮助协调对银行和保险公司进行与气候相关的压力测试。不过，任何与气候相关的压力测试，都不会像常规评估那样具有“限制金融机构支出和资本的相同地位”。\n此外，她还提到了美国公司人员结构多元化的问题，并认为当前雇佣状况在少数族裔和不同性别之间是不公平的，“就组织绩效而言，大量研究表明，多元化的组织在各方面表现都更好。在财政部内部，促进多元化和包容性将是关键目标，也是我的首要任务。”\n在耶伦讲话期间，现货黄金短线拉升5美元，刷新日高至1808.43美元/盎司，日内整体涨幅扩大至超1.2%，追随欧美国债价格普遍上扬的表现。\n现货白银也刷新日高至27.7908美元/盎司，日内整体涨超1.5%。\n道指则维持超过100点的跌幅。\n10年期美债收益率短线下挫大约2.50个基点，日内整体转跌，并刷新日低至1.3313%；30年期美债收益率也刷新日低至2.1262%。","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"},"commentList":[{"id":363097340,"gmtCreate":1614080917280,"gmtModify":1704887816046,"author":{"id":"3573267026077628","authorId":"3573267026077628","name":"阿麦小乔","avatar":"https://static.tigerbbs.com/234561fa04246ad0d2b52dbc39a5b523","vip":1,"crmLevel":11,"crmLevelSwitch":0,"idStr":"3573267026077628","authorIdStr":"3573267026077628"},"htmlText":"[捂臉]&nbsp;[捂臉]&nbsp;","listText":"[捂臉]&nbsp;[捂臉]&nbsp;","text":"[捂臉] [捂臉]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/363097340","repostId":1186504868,"repostType":4,"repost":{"id":"1186504868","kind":"news","pubTimestamp":1614048655,"share":"https://ttm.financial/m/news/1186504868?lang=en_US&edition=fundamental","pubTime":"2021-02-23 10:50","market":"us","language":"zh","title":"One article to understand Yellen's statement: U.S. stock worries have eased, and the Bitcoin market has come to an end?","url":"https://stock-news.laohu8.com/highlight/detail?id=1186504868","media":"华尔街见闻","summary":"在低利率环境中，债务占GDP比重这种传统指标已不太重要。","content":"On Monday, February 22nd, U.S. Treasury Secretary Yellen participated in an online event organized by the New York Times. In this informative discussion, she mentioned the U.S. debt problem, her views on Bitcoin, and corporate tax issues that the market is highly concerned about.Yellen believes that in the current low interest rate environment, the debt-to-GDP ratio, a traditional measure for assessing debt, is less important. The more important measure is the ratio of federal debt interest to GDP, which is currently about 2%, not higher than the 2007 level. Yellen said that the cost of debt can be partially recovered through stronger economic growth.She favors raising corporate taxes to pay for the Biden administration's long-term economic reconstruction plan and to help address Congressional concerns about debt sustainability. She also said,Willing to consider increasing capital gains rates while avoiding a wealth tax.Yellen believes that,Trading with Bitcoin is an'extremely inefficient way ', the amount of energy consumed to process these exchanges is staggering. Bitcoin is also a \"highly speculative asset\", and digital currencies may lead to a faster and cheaper payment experience, \"but there are many issues to be studied, including consumer protection and anti-money laundering.\"This criticism caused Bitcoin to plummet more than 17% and fall below $48,000 at the beginning of the U.S. stock market.At the same time, she said it makes sense for the Fed to study issuing a digital dollar currency, and that a digital dollar maintained by the Fed and based on blockchain \"may lead to faster, safer and cheaper payment methods.\"The White House said earlier that U.S. President Joe Biden will be briefed by Yellen on Friday.Don't look at debt-to-GDP ratioYellen said that her criterion for judging the success of the economic recovery is how quickly the unemployment rate returns to pre-epidemic levels, especially the extent to which people who lost their jobs in the service industry are re-employed. \"We need to ensure that those who are most hurt in this crisis will not suffer permanent harm.\"Consistent with Federal Reserve Chairman Powell's views, Yellen also believes that the current effective unemployment rate in the United States is close to 10%, mainly due to the fact that 4 million people withdrew from the labor market due to childcare responsibilities during the epidemic.Of course, if we only look at nominal data, the non-agricultural unemployment rate in January was 6.3%, which is approaching the pre-epidemic full employment level of 3.5%.She said that one of the key tasks of the Treasury Secretary is to ensure that the financial situation of the United States is good. However, in view of the long-term slow recovery of the United States from the subprime mortgage crisis in 2008, \"if the federal government fails to spend the necessary funds to get the economy back on track quickly, it will cause damage to the fiscal soundness of the United States and incur fiscal costs.\" The effect of issuing cash checks to the people is better than implementing fiscal policies during economic recession.She believes that,In the current very low interest rate environment, traditional indicators for assessing debt (such as the ratio of U.S. public debt to GDP) are no longer very important. The more important indicator is the ratio of federal debt interest to GDP, which is currently about 2%, not higher than 2007. level. Yellen said the cost of debt can be partially recovered by having a stronger economy:Because of the interest rate environment, I think we have more fiscal space than ever and should consider using it.In favor of raising corporate tax, not in favor of tax on the richYellen said last week that tax measures were needed to pay for the Biden administration's long-term economic reconstruction plan and help address Congressional concerns about debt sustainability.On Monday, she said the Biden administration advocated raising the corporate tax rate to 28%, willing to consider increasing capital gains rates while avoiding wealth taxes, \"Property taxes have been discussed, but President Biden is not in favor of them\", and such taxes will face serious enforcement problems.Yellen also said that the financial transaction tax is also worth studying, but there may be a downside to having to carefully examine the impact on ordinary investors.When asked whether the United States would take advantage of the low interest rate environment to issue 100-year \"century bonds\", Yellen said that the market demand for 100-year U.S. government bonds may be small and the liquidity will be light, and at the same time, she did not rule out considering issuing such securities. \"It certainly seems reasonable to issue long-term securities.\" The U.S. Treasury Department may study the potential of ultra-long bonds again. At present, the longest Treasury Bond is 30 years.Bitcoin is an extremely inefficient way to tradeYellen said she didn't think Bitcoin was being widely used as a trading mechanism andTrading with Bitcoin is an \"extremely inefficient way\" and the amount of energy consumed to process these exchanges is staggering.She believes that Bitcoin is also a \"highly speculative asset\" and digital currency may bring a faster and cheaper payment experience, \"but there are many issues that need to be studied, including consumer protection and anti-money laundering\".She said,It makes sense for the Fed to study issuing a digital dollar currency, a digital dollar maintained by the Federal Reserve and based on blockchain \"could lead to faster, safer and cheaper payment methods.\"Of course, there are still some questions that need to be solved first, such as what will be the impact on the banking system? Did it cause a large amount of deposits to flow from banks to the Fed? Does the Fed deal directly with retail customers, or does it try to do so wholesale? Are there financial stability issues? How to deal with money laundering and illicit financing?She said: \"There are many things to consider, but it is worth seeing.\"It is worth noting that ECB President Christine Lagarde has a similarly negative attitude towards Bitcoin. Two weeks ago, on February 11th, she publicly stated that it is very unlikely that major central banks around the world will hold Bitcoin as a reserve currency in the near future, and that Bitcoin is not a real currency. She also called for more regulation of cryptocurrencies in January, saying that Bitcoin has been used for illegal businesses such as money laundering.At the same time, Lagarde also hinted at the possibility of launching a digital euro. She said that COVID-19 pandemic has prompted the economy to speed up the adoption of digitalization and may have a digital euro currency ready in about four years.Pay attention to the hype of GMEWhen talking about retail investors' speculation in individual stocks such as GameStop (GME), Yellen said she needs to know the details of the matter. The U.S. Securities and Exchange Commission (SEC) is preparing a report that can provide a basis for potential regulatory actions:A very important question is, are investors fully informed and protected? It's too early to tell. It is important to treat retail investors fairly and give them the opportunity to trade in the market. She also said climate change will become a new focus for the U.S. Treasury Department, which may take the lead through the Federal Reserve or other regulators to help coordinate climate-related stress tests of banks and insurers. However, any climate-related stress test will not have \"the same status of restricting the expenditure and capital of financial institutions\" as conventional assessments.In addition, she also mentioned the diversity of personnel structure in American companies, and believed that the current employment situation is unfair between ethnic minorities and different genders. \"As far as organizational performance is concerned, a large number of studies have shown that diverse organizations perform better in all aspects. Within the Ministry of Finance, promoting diversity and inclusion will be a key goal and my top priority.\"During Yellen's speech, spot gold rose by US $5 in the short term, setting a new daily high of US $1,808.43 per ounce. The overall increase within the day expanded to over 1.2%, following the general rise in European and American Treasury Bond prices.Spot silver also set a new daily high of US $27.7908 per ounce, with an overall increase of more than 1.5% during the day.The Dow maintained a decline of more than 100 points.The 10-year U.S. bond yield fell by about 2.50 basis points in the short term, turning down as a whole during the day, and refreshed as low as 1.3313%; The 30-year U.S. Treasury yield also hit a new daily low of 2.1262%.","source":"highlight_wallstreetcn","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>One article to understand Yellen's statement: U.S. stock worries have eased, and the Bitcoin market has come to an end?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOne article to understand Yellen's statement: U.S. stock worries have eased, and the Bitcoin market has come to an end?\n</h2>\n<h4 class=\"meta\">\n\n华尔街见闻2021-02-23 10:50\n\n</h4>\n</header>\n<article>\nOn Monday, February 22nd, U.S. Treasury Secretary Yellen participated in an online event organized by the New York Times. In this informative discussion, she mentioned the U.S. debt problem, her views on Bitcoin, and corporate tax issues that the market is highly concerned about.Yellen believes that in the current low interest rate environment, the debt-to-GDP ratio, a traditional measure for assessing debt, is less important. The more important measure is the ratio of federal debt interest to GDP, which is currently about 2%, not higher than the 2007 level. Yellen said that the cost of debt can be partially recovered through stronger economic growth.She favors raising corporate taxes to pay for the Biden administration's long-term economic reconstruction plan and to help address Congressional concerns about debt sustainability. She also said,Willing to consider increasing capital gains rates while avoiding a wealth tax.Yellen believes that,Trading with Bitcoin is an'extremely inefficient way ', the amount of energy consumed to process these exchanges is staggering. Bitcoin is also a \"highly speculative asset\", and digital currencies may lead to a faster and cheaper payment experience, \"but there are many issues to be studied, including consumer protection and anti-money laundering.\"This criticism caused Bitcoin to plummet more than 17% and fall below $48,000 at the beginning of the U.S. stock market.At the same time, she said it makes sense for the Fed to study issuing a digital dollar currency, and that a digital dollar maintained by the Fed and based on blockchain \"may lead to faster, safer and cheaper payment methods.\"The White House said earlier that U.S. President Joe Biden will be briefed by Yellen on Friday.Don't look at debt-to-GDP ratioYellen said that her criterion for judging the success of the economic recovery is how quickly the unemployment rate returns to pre-epidemic levels, especially the extent to which people who lost their jobs in the service industry are re-employed. \"We need to ensure that those who are most hurt in this crisis will not suffer permanent harm.\"Consistent with Federal Reserve Chairman Powell's views, Yellen also believes that the current effective unemployment rate in the United States is close to 10%, mainly due to the fact that 4 million people withdrew from the labor market due to childcare responsibilities during the epidemic.Of course, if we only look at nominal data, the non-agricultural unemployment rate in January was 6.3%, which is approaching the pre-epidemic full employment level of 3.5%.She said that one of the key tasks of the Treasury Secretary is to ensure that the financial situation of the United States is good. However, in view of the long-term slow recovery of the United States from the subprime mortgage crisis in 2008, \"if the federal government fails to spend the necessary funds to get the economy back on track quickly, it will cause damage to the fiscal soundness of the United States and incur fiscal costs.\" The effect of issuing cash checks to the people is better than implementing fiscal policies during economic recession.She believes that,In the current very low interest rate environment, traditional indicators for assessing debt (such as the ratio of U.S. public debt to GDP) are no longer very important. The more important indicator is the ratio of federal debt interest to GDP, which is currently about 2%, not higher than 2007. level. Yellen said the cost of debt can be partially recovered by having a stronger economy:Because of the interest rate environment, I think we have more fiscal space than ever and should consider using it.In favor of raising corporate tax, not in favor of tax on the richYellen said last week that tax measures were needed to pay for the Biden administration's long-term economic reconstruction plan and help address Congressional concerns about debt sustainability.On Monday, she said the Biden administration advocated raising the corporate tax rate to 28%, willing to consider increasing capital gains rates while avoiding wealth taxes, \"Property taxes have been discussed, but President Biden is not in favor of them\", and such taxes will face serious enforcement problems.Yellen also said that the financial transaction tax is also worth studying, but there may be a downside to having to carefully examine the impact on ordinary investors.When asked whether the United States would take advantage of the low interest rate environment to issue 100-year \"century bonds\", Yellen said that the market demand for 100-year U.S. government bonds may be small and the liquidity will be light, and at the same time, she did not rule out considering issuing such securities. \"It certainly seems reasonable to issue long-term securities.\" The U.S. Treasury Department may study the potential of ultra-long bonds again. At present, the longest Treasury Bond is 30 years.Bitcoin is an extremely inefficient way to tradeYellen said she didn't think Bitcoin was being widely used as a trading mechanism andTrading with Bitcoin is an \"extremely inefficient way\" and the amount of energy consumed to process these exchanges is staggering.She believes that Bitcoin is also a \"highly speculative asset\" and digital currency may bring a faster and cheaper payment experience, \"but there are many issues that need to be studied, including consumer protection and anti-money laundering\".She said,It makes sense for the Fed to study issuing a digital dollar currency, a digital dollar maintained by the Federal Reserve and based on blockchain \"could lead to faster, safer and cheaper payment methods.\"Of course, there are still some questions that need to be solved first, such as what will be the impact on the banking system? Did it cause a large amount of deposits to flow from banks to the Fed? Does the Fed deal directly with retail customers, or does it try to do so wholesale? Are there financial stability issues? How to deal with money laundering and illicit financing?She said: \"There are many things to consider, but it is worth seeing.\"It is worth noting that ECB President Christine Lagarde has a similarly negative attitude towards Bitcoin. Two weeks ago, on February 11th, she publicly stated that it is very unlikely that major central banks around the world will hold Bitcoin as a reserve currency in the near future, and that Bitcoin is not a real currency. She also called for more regulation of cryptocurrencies in January, saying that Bitcoin has been used for illegal businesses such as money laundering.At the same time, Lagarde also hinted at the possibility of launching a digital euro. She said that COVID-19 pandemic has prompted the economy to speed up the adoption of digitalization and may have a digital euro currency ready in about four years.Pay attention to the hype of GMEWhen talking about retail investors' speculation in individual stocks such as GameStop (GME), Yellen said she needs to know the details of the matter. The U.S. Securities and Exchange Commission (SEC) is preparing a report that can provide a basis for potential regulatory actions:A very important question is, are investors fully informed and protected? It's too early to tell. It is important to treat retail investors fairly and give them the opportunity to trade in the market. She also said climate change will become a new focus for the U.S. Treasury Department, which may take the lead through the Federal Reserve or other regulators to help coordinate climate-related stress tests of banks and insurers. However, any climate-related stress test will not have \"the same status of restricting the expenditure and capital of financial institutions\" as conventional assessments.In addition, she also mentioned the diversity of personnel structure in American companies, and believed that the current employment situation is unfair between ethnic minorities and different genders. \"As far as organizational performance is concerned, a large number of studies have shown that diverse organizations perform better in all aspects. Within the Ministry of Finance, promoting diversity and inclusion will be a key goal and my top priority.\"During Yellen's speech, spot gold rose by US $5 in the short term, setting a new daily high of US $1,808.43 per ounce. The overall increase within the day expanded to over 1.2%, following the general rise in European and American Treasury Bond prices.Spot silver also set a new daily high of US $27.7908 per ounce, with an overall increase of more than 1.5% during the day.The Dow maintained a decline of more than 100 points.The 10-year U.S. bond yield fell by about 2.50 basis points in the short term, turning down as a whole during the day, and refreshed as low as 1.3313%; The 30-year U.S. Treasury yield also hit a new daily low of 2.1262%.\n<div class=\"bt-text\">\n\n\n source：<a href=\"https://wallstreetcn.com/articles/3620960\">华尔街见闻</a>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/658e43dbdffd81d27cb63cd2c688bcd0","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://wallstreetcn.com/articles/3620960","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"1186504868","content_text":"2月22日周一，美国财长耶伦参加了纽约时报组织的线上活动，在这场信息量巨大的讨论中，她提到了美国债务问题、对比特币的看法、以及市场高度关注的公司税问题。\n耶伦认为，在当前低利率环境中，债务占GDP比重这种评估债务的传统指标已不太重要，更重要的指标是联邦债务利息占GDP比重，这在当前约为2%，没有高于2007年的水平。耶伦称，可以通过经济更强劲的增长来部分收回债务成本。\n她赞成提高公司税，以支付拜登政府的长期经济重建计划，并帮助解决国会对债务可持续性的担忧。她还称，愿意考虑提高资本利得率，同时避免征收富人税（wealth tax）。\n耶伦认为，用比特币进行交易是一种“极其低效的方式”，处理这些交易所消耗的能源惊人。比特币还是一种“高度投机的资产”，数字货币可能会带来更快速和更便宜的支付体验，“但有许多问题需要研究，包括消费者保护和反洗钱”。\n这一批评导致比特币在美股盘初一度大跌超17%并跌破4.8万美元。\n与此同时，她表示美联储研究发行数字美元货币很有意义，由美联储维持并基于区块链的数字美元“可能会导致更快、更安全和更便宜的付款方式”。\n白宫稍早表示，美国总统拜登将在周五听取耶伦作简报。\n不要看债务占GDP的比重\n耶伦表示，她评判经济复苏的成功标准是，失业率重回疫情前水平的快慢，特别是服务业失去工作的人们再就业的程度，“我们需要确保在这场危机中受伤最深的人不会遭遇永久伤害”。\n与美联储主席鲍威尔的观点一致，耶伦也认为美国当前有效失业率接近10%，主要由于疫情期间因育儿责任导致400万人退出了劳动力市场。\n当然，如果只看名义数据，1月非农失业率为6.3%，正在趋近于疫情前充分就业的水平3.5%。\n她称，财长的关键任务之一是确保美国财政状况良好，但有鉴于美国从2008年次贷危机中的长期缓慢复苏，“如果联邦政府未能花费必要的资金使经济快速回到正轨，那将对美国的财政稳健性造成损害、产生财政成本”，向民众发放现金支票的效果要好于在经济衰退时实施财政政策。\n她认为，在当前非常低的利率环境中，评估债务的传统指标（例如美国公共债务占GDP比重）已不太重要，更重要的指标是联邦债务利息占GDP比重，当前约为2%，没有高于2007年的水平。耶伦称，可以通过拥有更强大的经济来部分收回债务成本：\n\n由于利率环境的原因，我认为我们拥有比以往更多的财政空间，应该考虑使用它。\n\n赞成提高公司税，不赞同富人税\n耶伦曾在上周表示，需要采取税收措施，以支付拜登政府的长期经济重建计划，并帮助解决国会对债务可持续性的担忧。\n周一她称，拜登政府主张提高公司税率至28%，愿意考虑提高资本利得率，同时避免征收财富税（wealth tax），“已经讨论过财产税，但拜登总统并不赞成”，这类税收将面临严重的执行问题。\n耶伦还表示，金融交易税也值得研究，但不得不仔细审视对普通投资者的影响，可能存在不利的一面。\n被问及美国会否利用低利率环境发行100年期的“世纪债券”时，耶伦既称对100年期美国政府债券的市场需求可能很小，流动性会很清淡，同时也没有排除考虑发行这种证券，“发行长期证券当然似乎是有道理的”，美国财政部可能会再次研究超长债券的潜力，目前最长国债是30年期。\n比特币是极其低效的交易方式\n耶伦称，她不认为比特币正被广泛用作交易机制，而且用比特币进行交易是一种“极其低效的方式”，处理这些交易所消耗的能源惊人。\n她认为，比特币还是一种“高度投机的资产”，数字货币可能会带来更快速和更便宜的支付体验，“但有许多问题需要研究，包括消费者保护和反洗钱”。\n她表示，美联储研究发行数字美元货币很有意义，由美联储维持并基于区块链的数字美元“可能会导致更快、更安全和更便宜的付款方式”。\n当然，仍有一些问题需要首先解决，例如对银行系统会有什么影响？是否导致大量存款从银行流入美联储？ 美联储是同零售端客户直接打交道，还是尝试以批发的方式这样做？是否存在金融稳定性问题？ 如何处理洗钱和非法融资问题？她称：“有很多事情需要考虑，但是值得一看。”\n值得注意的是，欧洲央行行长拉加德对比特币持有类似负面态度。两周前的2月11日，她公开表示，全球主要央行在不久将来持有比特币作为储备货币的可能性非常小，比特币并不是真正的货币。她还曾在1月时呼吁对加密货币进行更多监管，称比特币已被用于洗钱等非法业务。\n同时，拉加德也暗示了推出数字欧元的可能性。她称，新冠疫情已促使经济体加快数字化的采用速度，并且可能会在大约四年内准备好数字欧元货币。\n关注GME的爆炒\n在谈及散户爆炒游戏驿站（GME）等个股时，耶伦称需要了解此事的详情，美国证券交易委员会（SEC）正在准备一份报告，可以为潜在的监管行动提供依据：\n\n 一个非常重要的问题是，投资者是否充分了解情况并受到保护？现在下结论还为时过早。重要的是要公平对待散户投资者，让他们有机会在市场上交易。\n\n她还表示，气候变化将成为美国财政部的一个新关注重点，该部门可能会通过美联储或其他监管机构牵头，帮助协调对银行和保险公司进行与气候相关的压力测试。不过，任何与气候相关的压力测试，都不会像常规评估那样具有“限制金融机构支出和资本的相同地位”。\n此外，她还提到了美国公司人员结构多元化的问题，并认为当前雇佣状况在少数族裔和不同性别之间是不公平的，“就组织绩效而言，大量研究表明，多元化的组织在各方面表现都更好。在财政部内部，促进多元化和包容性将是关键目标，也是我的首要任务。”\n在耶伦讲话期间，现货黄金短线拉升5美元，刷新日高至1808.43美元/盎司，日内整体涨幅扩大至超1.2%，追随欧美国债价格普遍上扬的表现。\n现货白银也刷新日高至27.7908美元/盎司，日内整体涨超1.5%。\n道指则维持超过100点的跌幅。\n10年期美债收益率短线下挫大约2.50个基点，日内整体转跌，并刷新日低至1.3313%；30年期美债收益率也刷新日低至2.1262%。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":363099805,"gmtCreate":1614080392807,"gmtModify":1704887806101,"author":{"id":"3476137077722633","authorId":"3476137077722633","name":"开心老男","avatar":"https://static.tigerbbs.com/c1f4cd83e204eae4e3f716fe411457b3","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3476137077722633","authorIdStr":"3476137077722633"},"htmlText":"利德稅嗎","listText":"利德稅嗎","text":"利德稅嗎","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/363099805","repostId":1186504868,"repostType":2,"repost":{"id":"1186504868","kind":"news","pubTimestamp":1614048655,"share":"https://ttm.financial/m/news/1186504868?lang=en_US&edition=fundamental","pubTime":"2021-02-23 10:50","market":"us","language":"zh","title":"One article to understand Yellen's statement: U.S. stock worries have eased, and the Bitcoin market has come to an end?","url":"https://stock-news.laohu8.com/highlight/detail?id=1186504868","media":"华尔街见闻","summary":"在低利率环境中，债务占GDP比重这种传统指标已不太重要。","content":"On Monday, February 22nd, U.S. Treasury Secretary Yellen participated in an online event organized by the New York Times. In this informative discussion, she mentioned the U.S. debt problem, her views on Bitcoin, and corporate tax issues that the market is highly concerned about.Yellen believes that in the current low interest rate environment, the debt-to-GDP ratio, a traditional measure for assessing debt, is less important. The more important measure is the ratio of federal debt interest to GDP, which is currently about 2%, not higher than the 2007 level. Yellen said that the cost of debt can be partially recovered through stronger economic growth.She favors raising corporate taxes to pay for the Biden administration's long-term economic reconstruction plan and to help address Congressional concerns about debt sustainability. She also said,Willing to consider increasing capital gains rates while avoiding a wealth tax.Yellen believes that,Trading with Bitcoin is an'extremely inefficient way ', the amount of energy consumed to process these exchanges is staggering. Bitcoin is also a \"highly speculative asset\", and digital currencies may lead to a faster and cheaper payment experience, \"but there are many issues to be studied, including consumer protection and anti-money laundering.\"This criticism caused Bitcoin to plummet more than 17% and fall below $48,000 at the beginning of the U.S. stock market.At the same time, she said it makes sense for the Fed to study issuing a digital dollar currency, and that a digital dollar maintained by the Fed and based on blockchain \"may lead to faster, safer and cheaper payment methods.\"The White House said earlier that U.S. President Joe Biden will be briefed by Yellen on Friday.Don't look at debt-to-GDP ratioYellen said that her criterion for judging the success of the economic recovery is how quickly the unemployment rate returns to pre-epidemic levels, especially the extent to which people who lost their jobs in the service industry are re-employed. \"We need to ensure that those who are most hurt in this crisis will not suffer permanent harm.\"Consistent with Federal Reserve Chairman Powell's views, Yellen also believes that the current effective unemployment rate in the United States is close to 10%, mainly due to the fact that 4 million people withdrew from the labor market due to childcare responsibilities during the epidemic.Of course, if we only look at nominal data, the non-agricultural unemployment rate in January was 6.3%, which is approaching the pre-epidemic full employment level of 3.5%.She said that one of the key tasks of the Treasury Secretary is to ensure that the financial situation of the United States is good. However, in view of the long-term slow recovery of the United States from the subprime mortgage crisis in 2008, \"if the federal government fails to spend the necessary funds to get the economy back on track quickly, it will cause damage to the fiscal soundness of the United States and incur fiscal costs.\" The effect of issuing cash checks to the people is better than implementing fiscal policies during economic recession.She believes that,In the current very low interest rate environment, traditional indicators for assessing debt (such as the ratio of U.S. public debt to GDP) are no longer very important. The more important indicator is the ratio of federal debt interest to GDP, which is currently about 2%, not higher than 2007. level. Yellen said the cost of debt can be partially recovered by having a stronger economy:Because of the interest rate environment, I think we have more fiscal space than ever and should consider using it.In favor of raising corporate tax, not in favor of tax on the richYellen said last week that tax measures were needed to pay for the Biden administration's long-term economic reconstruction plan and help address Congressional concerns about debt sustainability.On Monday, she said the Biden administration advocated raising the corporate tax rate to 28%, willing to consider increasing capital gains rates while avoiding wealth taxes, \"Property taxes have been discussed, but President Biden is not in favor of them\", and such taxes will face serious enforcement problems.Yellen also said that the financial transaction tax is also worth studying, but there may be a downside to having to carefully examine the impact on ordinary investors.When asked whether the United States would take advantage of the low interest rate environment to issue 100-year \"century bonds\", Yellen said that the market demand for 100-year U.S. government bonds may be small and the liquidity will be light, and at the same time, she did not rule out considering issuing such securities. \"It certainly seems reasonable to issue long-term securities.\" The U.S. Treasury Department may study the potential of ultra-long bonds again. At present, the longest Treasury Bond is 30 years.Bitcoin is an extremely inefficient way to tradeYellen said she didn't think Bitcoin was being widely used as a trading mechanism andTrading with Bitcoin is an \"extremely inefficient way\" and the amount of energy consumed to process these exchanges is staggering.She believes that Bitcoin is also a \"highly speculative asset\" and digital currency may bring a faster and cheaper payment experience, \"but there are many issues that need to be studied, including consumer protection and anti-money laundering\".She said,It makes sense for the Fed to study issuing a digital dollar currency, a digital dollar maintained by the Federal Reserve and based on blockchain \"could lead to faster, safer and cheaper payment methods.\"Of course, there are still some questions that need to be solved first, such as what will be the impact on the banking system? Did it cause a large amount of deposits to flow from banks to the Fed? Does the Fed deal directly with retail customers, or does it try to do so wholesale? Are there financial stability issues? How to deal with money laundering and illicit financing?She said: \"There are many things to consider, but it is worth seeing.\"It is worth noting that ECB President Christine Lagarde has a similarly negative attitude towards Bitcoin. Two weeks ago, on February 11th, she publicly stated that it is very unlikely that major central banks around the world will hold Bitcoin as a reserve currency in the near future, and that Bitcoin is not a real currency. She also called for more regulation of cryptocurrencies in January, saying that Bitcoin has been used for illegal businesses such as money laundering.At the same time, Lagarde also hinted at the possibility of launching a digital euro. She said that COVID-19 pandemic has prompted the economy to speed up the adoption of digitalization and may have a digital euro currency ready in about four years.Pay attention to the hype of GMEWhen talking about retail investors' speculation in individual stocks such as GameStop (GME), Yellen said she needs to know the details of the matter. The U.S. Securities and Exchange Commission (SEC) is preparing a report that can provide a basis for potential regulatory actions:A very important question is, are investors fully informed and protected? It's too early to tell. It is important to treat retail investors fairly and give them the opportunity to trade in the market. She also said climate change will become a new focus for the U.S. Treasury Department, which may take the lead through the Federal Reserve or other regulators to help coordinate climate-related stress tests of banks and insurers. However, any climate-related stress test will not have \"the same status of restricting the expenditure and capital of financial institutions\" as conventional assessments.In addition, she also mentioned the diversity of personnel structure in American companies, and believed that the current employment situation is unfair between ethnic minorities and different genders. \"As far as organizational performance is concerned, a large number of studies have shown that diverse organizations perform better in all aspects. Within the Ministry of Finance, promoting diversity and inclusion will be a key goal and my top priority.\"During Yellen's speech, spot gold rose by US $5 in the short term, setting a new daily high of US $1,808.43 per ounce. The overall increase within the day expanded to over 1.2%, following the general rise in European and American Treasury Bond prices.Spot silver also set a new daily high of US $27.7908 per ounce, with an overall increase of more than 1.5% during the day.The Dow maintained a decline of more than 100 points.The 10-year U.S. bond yield fell by about 2.50 basis points in the short term, turning down as a whole during the day, and refreshed as low as 1.3313%; The 30-year U.S. Treasury yield also hit a new daily low of 2.1262%.","source":"highlight_wallstreetcn","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>One article to understand Yellen's statement: U.S. stock worries have eased, and the Bitcoin market has come to an end?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOne article to understand Yellen's statement: U.S. stock worries have eased, and the Bitcoin market has come to an end?\n</h2>\n<h4 class=\"meta\">\n\n华尔街见闻2021-02-23 10:50\n\n</h4>\n</header>\n<article>\nOn Monday, February 22nd, U.S. Treasury Secretary Yellen participated in an online event organized by the New York Times. In this informative discussion, she mentioned the U.S. debt problem, her views on Bitcoin, and corporate tax issues that the market is highly concerned about.Yellen believes that in the current low interest rate environment, the debt-to-GDP ratio, a traditional measure for assessing debt, is less important. The more important measure is the ratio of federal debt interest to GDP, which is currently about 2%, not higher than the 2007 level. Yellen said that the cost of debt can be partially recovered through stronger economic growth.She favors raising corporate taxes to pay for the Biden administration's long-term economic reconstruction plan and to help address Congressional concerns about debt sustainability. She also said,Willing to consider increasing capital gains rates while avoiding a wealth tax.Yellen believes that,Trading with Bitcoin is an'extremely inefficient way ', the amount of energy consumed to process these exchanges is staggering. Bitcoin is also a \"highly speculative asset\", and digital currencies may lead to a faster and cheaper payment experience, \"but there are many issues to be studied, including consumer protection and anti-money laundering.\"This criticism caused Bitcoin to plummet more than 17% and fall below $48,000 at the beginning of the U.S. stock market.At the same time, she said it makes sense for the Fed to study issuing a digital dollar currency, and that a digital dollar maintained by the Fed and based on blockchain \"may lead to faster, safer and cheaper payment methods.\"The White House said earlier that U.S. President Joe Biden will be briefed by Yellen on Friday.Don't look at debt-to-GDP ratioYellen said that her criterion for judging the success of the economic recovery is how quickly the unemployment rate returns to pre-epidemic levels, especially the extent to which people who lost their jobs in the service industry are re-employed. \"We need to ensure that those who are most hurt in this crisis will not suffer permanent harm.\"Consistent with Federal Reserve Chairman Powell's views, Yellen also believes that the current effective unemployment rate in the United States is close to 10%, mainly due to the fact that 4 million people withdrew from the labor market due to childcare responsibilities during the epidemic.Of course, if we only look at nominal data, the non-agricultural unemployment rate in January was 6.3%, which is approaching the pre-epidemic full employment level of 3.5%.She said that one of the key tasks of the Treasury Secretary is to ensure that the financial situation of the United States is good. However, in view of the long-term slow recovery of the United States from the subprime mortgage crisis in 2008, \"if the federal government fails to spend the necessary funds to get the economy back on track quickly, it will cause damage to the fiscal soundness of the United States and incur fiscal costs.\" The effect of issuing cash checks to the people is better than implementing fiscal policies during economic recession.She believes that,In the current very low interest rate environment, traditional indicators for assessing debt (such as the ratio of U.S. public debt to GDP) are no longer very important. The more important indicator is the ratio of federal debt interest to GDP, which is currently about 2%, not higher than 2007. level. Yellen said the cost of debt can be partially recovered by having a stronger economy:Because of the interest rate environment, I think we have more fiscal space than ever and should consider using it.In favor of raising corporate tax, not in favor of tax on the richYellen said last week that tax measures were needed to pay for the Biden administration's long-term economic reconstruction plan and help address Congressional concerns about debt sustainability.On Monday, she said the Biden administration advocated raising the corporate tax rate to 28%, willing to consider increasing capital gains rates while avoiding wealth taxes, \"Property taxes have been discussed, but President Biden is not in favor of them\", and such taxes will face serious enforcement problems.Yellen also said that the financial transaction tax is also worth studying, but there may be a downside to having to carefully examine the impact on ordinary investors.When asked whether the United States would take advantage of the low interest rate environment to issue 100-year \"century bonds\", Yellen said that the market demand for 100-year U.S. government bonds may be small and the liquidity will be light, and at the same time, she did not rule out considering issuing such securities. \"It certainly seems reasonable to issue long-term securities.\" The U.S. Treasury Department may study the potential of ultra-long bonds again. At present, the longest Treasury Bond is 30 years.Bitcoin is an extremely inefficient way to tradeYellen said she didn't think Bitcoin was being widely used as a trading mechanism andTrading with Bitcoin is an \"extremely inefficient way\" and the amount of energy consumed to process these exchanges is staggering.She believes that Bitcoin is also a \"highly speculative asset\" and digital currency may bring a faster and cheaper payment experience, \"but there are many issues that need to be studied, including consumer protection and anti-money laundering\".She said,It makes sense for the Fed to study issuing a digital dollar currency, a digital dollar maintained by the Federal Reserve and based on blockchain \"could lead to faster, safer and cheaper payment methods.\"Of course, there are still some questions that need to be solved first, such as what will be the impact on the banking system? Did it cause a large amount of deposits to flow from banks to the Fed? Does the Fed deal directly with retail customers, or does it try to do so wholesale? Are there financial stability issues? How to deal with money laundering and illicit financing?She said: \"There are many things to consider, but it is worth seeing.\"It is worth noting that ECB President Christine Lagarde has a similarly negative attitude towards Bitcoin. Two weeks ago, on February 11th, she publicly stated that it is very unlikely that major central banks around the world will hold Bitcoin as a reserve currency in the near future, and that Bitcoin is not a real currency. She also called for more regulation of cryptocurrencies in January, saying that Bitcoin has been used for illegal businesses such as money laundering.At the same time, Lagarde also hinted at the possibility of launching a digital euro. She said that COVID-19 pandemic has prompted the economy to speed up the adoption of digitalization and may have a digital euro currency ready in about four years.Pay attention to the hype of GMEWhen talking about retail investors' speculation in individual stocks such as GameStop (GME), Yellen said she needs to know the details of the matter. The U.S. Securities and Exchange Commission (SEC) is preparing a report that can provide a basis for potential regulatory actions:A very important question is, are investors fully informed and protected? It's too early to tell. It is important to treat retail investors fairly and give them the opportunity to trade in the market. She also said climate change will become a new focus for the U.S. Treasury Department, which may take the lead through the Federal Reserve or other regulators to help coordinate climate-related stress tests of banks and insurers. However, any climate-related stress test will not have \"the same status of restricting the expenditure and capital of financial institutions\" as conventional assessments.In addition, she also mentioned the diversity of personnel structure in American companies, and believed that the current employment situation is unfair between ethnic minorities and different genders. \"As far as organizational performance is concerned, a large number of studies have shown that diverse organizations perform better in all aspects. Within the Ministry of Finance, promoting diversity and inclusion will be a key goal and my top priority.\"During Yellen's speech, spot gold rose by US $5 in the short term, setting a new daily high of US $1,808.43 per ounce. The overall increase within the day expanded to over 1.2%, following the general rise in European and American Treasury Bond prices.Spot silver also set a new daily high of US $27.7908 per ounce, with an overall increase of more than 1.5% during the day.The Dow maintained a decline of more than 100 points.The 10-year U.S. bond yield fell by about 2.50 basis points in the short term, turning down as a whole during the day, and refreshed as low as 1.3313%; The 30-year U.S. Treasury yield also hit a new daily low of 2.1262%.\n<div class=\"bt-text\">\n\n\n source：<a href=\"https://wallstreetcn.com/articles/3620960\">华尔街见闻</a>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/658e43dbdffd81d27cb63cd2c688bcd0","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://wallstreetcn.com/articles/3620960","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"1186504868","content_text":"2月22日周一，美国财长耶伦参加了纽约时报组织的线上活动，在这场信息量巨大的讨论中，她提到了美国债务问题、对比特币的看法、以及市场高度关注的公司税问题。\n耶伦认为，在当前低利率环境中，债务占GDP比重这种评估债务的传统指标已不太重要，更重要的指标是联邦债务利息占GDP比重，这在当前约为2%，没有高于2007年的水平。耶伦称，可以通过经济更强劲的增长来部分收回债务成本。\n她赞成提高公司税，以支付拜登政府的长期经济重建计划，并帮助解决国会对债务可持续性的担忧。她还称，愿意考虑提高资本利得率，同时避免征收富人税（wealth tax）。\n耶伦认为，用比特币进行交易是一种“极其低效的方式”，处理这些交易所消耗的能源惊人。比特币还是一种“高度投机的资产”，数字货币可能会带来更快速和更便宜的支付体验，“但有许多问题需要研究，包括消费者保护和反洗钱”。\n这一批评导致比特币在美股盘初一度大跌超17%并跌破4.8万美元。\n与此同时，她表示美联储研究发行数字美元货币很有意义，由美联储维持并基于区块链的数字美元“可能会导致更快、更安全和更便宜的付款方式”。\n白宫稍早表示，美国总统拜登将在周五听取耶伦作简报。\n不要看债务占GDP的比重\n耶伦表示，她评判经济复苏的成功标准是，失业率重回疫情前水平的快慢，特别是服务业失去工作的人们再就业的程度，“我们需要确保在这场危机中受伤最深的人不会遭遇永久伤害”。\n与美联储主席鲍威尔的观点一致，耶伦也认为美国当前有效失业率接近10%，主要由于疫情期间因育儿责任导致400万人退出了劳动力市场。\n当然，如果只看名义数据，1月非农失业率为6.3%，正在趋近于疫情前充分就业的水平3.5%。\n她称，财长的关键任务之一是确保美国财政状况良好，但有鉴于美国从2008年次贷危机中的长期缓慢复苏，“如果联邦政府未能花费必要的资金使经济快速回到正轨，那将对美国的财政稳健性造成损害、产生财政成本”，向民众发放现金支票的效果要好于在经济衰退时实施财政政策。\n她认为，在当前非常低的利率环境中，评估债务的传统指标（例如美国公共债务占GDP比重）已不太重要，更重要的指标是联邦债务利息占GDP比重，当前约为2%，没有高于2007年的水平。耶伦称，可以通过拥有更强大的经济来部分收回债务成本：\n\n由于利率环境的原因，我认为我们拥有比以往更多的财政空间，应该考虑使用它。\n\n赞成提高公司税，不赞同富人税\n耶伦曾在上周表示，需要采取税收措施，以支付拜登政府的长期经济重建计划，并帮助解决国会对债务可持续性的担忧。\n周一她称，拜登政府主张提高公司税率至28%，愿意考虑提高资本利得率，同时避免征收财富税（wealth tax），“已经讨论过财产税，但拜登总统并不赞成”，这类税收将面临严重的执行问题。\n耶伦还表示，金融交易税也值得研究，但不得不仔细审视对普通投资者的影响，可能存在不利的一面。\n被问及美国会否利用低利率环境发行100年期的“世纪债券”时，耶伦既称对100年期美国政府债券的市场需求可能很小，流动性会很清淡，同时也没有排除考虑发行这种证券，“发行长期证券当然似乎是有道理的”，美国财政部可能会再次研究超长债券的潜力，目前最长国债是30年期。\n比特币是极其低效的交易方式\n耶伦称，她不认为比特币正被广泛用作交易机制，而且用比特币进行交易是一种“极其低效的方式”，处理这些交易所消耗的能源惊人。\n她认为，比特币还是一种“高度投机的资产”，数字货币可能会带来更快速和更便宜的支付体验，“但有许多问题需要研究，包括消费者保护和反洗钱”。\n她表示，美联储研究发行数字美元货币很有意义，由美联储维持并基于区块链的数字美元“可能会导致更快、更安全和更便宜的付款方式”。\n当然，仍有一些问题需要首先解决，例如对银行系统会有什么影响？是否导致大量存款从银行流入美联储？ 美联储是同零售端客户直接打交道，还是尝试以批发的方式这样做？是否存在金融稳定性问题？ 如何处理洗钱和非法融资问题？她称：“有很多事情需要考虑，但是值得一看。”\n值得注意的是，欧洲央行行长拉加德对比特币持有类似负面态度。两周前的2月11日，她公开表示，全球主要央行在不久将来持有比特币作为储备货币的可能性非常小，比特币并不是真正的货币。她还曾在1月时呼吁对加密货币进行更多监管，称比特币已被用于洗钱等非法业务。\n同时，拉加德也暗示了推出数字欧元的可能性。她称，新冠疫情已促使经济体加快数字化的采用速度，并且可能会在大约四年内准备好数字欧元货币。\n关注GME的爆炒\n在谈及散户爆炒游戏驿站（GME）等个股时，耶伦称需要了解此事的详情，美国证券交易委员会（SEC）正在准备一份报告，可以为潜在的监管行动提供依据：\n\n 一个非常重要的问题是，投资者是否充分了解情况并受到保护？现在下结论还为时过早。重要的是要公平对待散户投资者，让他们有机会在市场上交易。\n\n她还表示，气候变化将成为美国财政部的一个新关注重点，该部门可能会通过美联储或其他监管机构牵头，帮助协调对银行和保险公司进行与气候相关的压力测试。不过，任何与气候相关的压力测试，都不会像常规评估那样具有“限制金融机构支出和资本的相同地位”。\n此外，她还提到了美国公司人员结构多元化的问题，并认为当前雇佣状况在少数族裔和不同性别之间是不公平的，“就组织绩效而言，大量研究表明，多元化的组织在各方面表现都更好。在财政部内部，促进多元化和包容性将是关键目标，也是我的首要任务。”\n在耶伦讲话期间，现货黄金短线拉升5美元，刷新日高至1808.43美元/盎司，日内整体涨幅扩大至超1.2%，追随欧美国债价格普遍上扬的表现。\n现货白银也刷新日高至27.7908美元/盎司，日内整体涨超1.5%。\n道指则维持超过100点的跌幅。\n10年期美债收益率短线下挫大约2.50个基点，日内整体转跌，并刷新日低至1.3313%；30年期美债收益率也刷新日低至2.1262%。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":369748171,"gmtCreate":1614078342393,"gmtModify":1704887769213,"author":{"id":"3575790689237418","authorId":"3575790689237418","name":"熊也赚钱","avatar":"https://static.tigerbbs.com/c8904569094dabce050ca2c86654aba6","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3575790689237418","authorIdStr":"3575790689237418"},"htmlText":"看來特斯拉一定會受此影響，馬斯特不該買比特幣","listText":"看來特斯拉一定會受此影響，馬斯特不該買比特幣","text":"看來特斯拉一定會受此影響，馬斯特不該買比特幣","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/369748171","repostId":1186504868,"repostType":4,"repost":{"id":"1186504868","kind":"news","pubTimestamp":1614048655,"share":"https://ttm.financial/m/news/1186504868?lang=en_US&edition=fundamental","pubTime":"2021-02-23 10:50","market":"us","language":"zh","title":"One article to understand Yellen's statement: U.S. stock worries have eased, and the Bitcoin market has come to an end?","url":"https://stock-news.laohu8.com/highlight/detail?id=1186504868","media":"华尔街见闻","summary":"在低利率环境中，债务占GDP比重这种传统指标已不太重要。","content":"On Monday, February 22nd, U.S. Treasury Secretary Yellen participated in an online event organized by the New York Times. In this informative discussion, she mentioned the U.S. debt problem, her views on Bitcoin, and corporate tax issues that the market is highly concerned about.Yellen believes that in the current low interest rate environment, the debt-to-GDP ratio, a traditional measure for assessing debt, is less important. The more important measure is the ratio of federal debt interest to GDP, which is currently about 2%, not higher than the 2007 level. Yellen said that the cost of debt can be partially recovered through stronger economic growth.She favors raising corporate taxes to pay for the Biden administration's long-term economic reconstruction plan and to help address Congressional concerns about debt sustainability. She also said,Willing to consider increasing capital gains rates while avoiding a wealth tax.Yellen believes that,Trading with Bitcoin is an'extremely inefficient way ', the amount of energy consumed to process these exchanges is staggering. Bitcoin is also a \"highly speculative asset\", and digital currencies may lead to a faster and cheaper payment experience, \"but there are many issues to be studied, including consumer protection and anti-money laundering.\"This criticism caused Bitcoin to plummet more than 17% and fall below $48,000 at the beginning of the U.S. stock market.At the same time, she said it makes sense for the Fed to study issuing a digital dollar currency, and that a digital dollar maintained by the Fed and based on blockchain \"may lead to faster, safer and cheaper payment methods.\"The White House said earlier that U.S. President Joe Biden will be briefed by Yellen on Friday.Don't look at debt-to-GDP ratioYellen said that her criterion for judging the success of the economic recovery is how quickly the unemployment rate returns to pre-epidemic levels, especially the extent to which people who lost their jobs in the service industry are re-employed. \"We need to ensure that those who are most hurt in this crisis will not suffer permanent harm.\"Consistent with Federal Reserve Chairman Powell's views, Yellen also believes that the current effective unemployment rate in the United States is close to 10%, mainly due to the fact that 4 million people withdrew from the labor market due to childcare responsibilities during the epidemic.Of course, if we only look at nominal data, the non-agricultural unemployment rate in January was 6.3%, which is approaching the pre-epidemic full employment level of 3.5%.She said that one of the key tasks of the Treasury Secretary is to ensure that the financial situation of the United States is good. However, in view of the long-term slow recovery of the United States from the subprime mortgage crisis in 2008, \"if the federal government fails to spend the necessary funds to get the economy back on track quickly, it will cause damage to the fiscal soundness of the United States and incur fiscal costs.\" The effect of issuing cash checks to the people is better than implementing fiscal policies during economic recession.She believes that,In the current very low interest rate environment, traditional indicators for assessing debt (such as the ratio of U.S. public debt to GDP) are no longer very important. The more important indicator is the ratio of federal debt interest to GDP, which is currently about 2%, not higher than 2007. level. Yellen said the cost of debt can be partially recovered by having a stronger economy:Because of the interest rate environment, I think we have more fiscal space than ever and should consider using it.In favor of raising corporate tax, not in favor of tax on the richYellen said last week that tax measures were needed to pay for the Biden administration's long-term economic reconstruction plan and help address Congressional concerns about debt sustainability.On Monday, she said the Biden administration advocated raising the corporate tax rate to 28%, willing to consider increasing capital gains rates while avoiding wealth taxes, \"Property taxes have been discussed, but President Biden is not in favor of them\", and such taxes will face serious enforcement problems.Yellen also said that the financial transaction tax is also worth studying, but there may be a downside to having to carefully examine the impact on ordinary investors.When asked whether the United States would take advantage of the low interest rate environment to issue 100-year \"century bonds\", Yellen said that the market demand for 100-year U.S. government bonds may be small and the liquidity will be light, and at the same time, she did not rule out considering issuing such securities. \"It certainly seems reasonable to issue long-term securities.\" The U.S. Treasury Department may study the potential of ultra-long bonds again. At present, the longest Treasury Bond is 30 years.Bitcoin is an extremely inefficient way to tradeYellen said she didn't think Bitcoin was being widely used as a trading mechanism andTrading with Bitcoin is an \"extremely inefficient way\" and the amount of energy consumed to process these exchanges is staggering.She believes that Bitcoin is also a \"highly speculative asset\" and digital currency may bring a faster and cheaper payment experience, \"but there are many issues that need to be studied, including consumer protection and anti-money laundering\".She said,It makes sense for the Fed to study issuing a digital dollar currency, a digital dollar maintained by the Federal Reserve and based on blockchain \"could lead to faster, safer and cheaper payment methods.\"Of course, there are still some questions that need to be solved first, such as what will be the impact on the banking system? Did it cause a large amount of deposits to flow from banks to the Fed? Does the Fed deal directly with retail customers, or does it try to do so wholesale? Are there financial stability issues? How to deal with money laundering and illicit financing?She said: \"There are many things to consider, but it is worth seeing.\"It is worth noting that ECB President Christine Lagarde has a similarly negative attitude towards Bitcoin. Two weeks ago, on February 11th, she publicly stated that it is very unlikely that major central banks around the world will hold Bitcoin as a reserve currency in the near future, and that Bitcoin is not a real currency. She also called for more regulation of cryptocurrencies in January, saying that Bitcoin has been used for illegal businesses such as money laundering.At the same time, Lagarde also hinted at the possibility of launching a digital euro. She said that COVID-19 pandemic has prompted the economy to speed up the adoption of digitalization and may have a digital euro currency ready in about four years.Pay attention to the hype of GMEWhen talking about retail investors' speculation in individual stocks such as GameStop (GME), Yellen said she needs to know the details of the matter. The U.S. Securities and Exchange Commission (SEC) is preparing a report that can provide a basis for potential regulatory actions:A very important question is, are investors fully informed and protected? It's too early to tell. It is important to treat retail investors fairly and give them the opportunity to trade in the market. She also said climate change will become a new focus for the U.S. Treasury Department, which may take the lead through the Federal Reserve or other regulators to help coordinate climate-related stress tests of banks and insurers. However, any climate-related stress test will not have \"the same status of restricting the expenditure and capital of financial institutions\" as conventional assessments.In addition, she also mentioned the diversity of personnel structure in American companies, and believed that the current employment situation is unfair between ethnic minorities and different genders. \"As far as organizational performance is concerned, a large number of studies have shown that diverse organizations perform better in all aspects. Within the Ministry of Finance, promoting diversity and inclusion will be a key goal and my top priority.\"During Yellen's speech, spot gold rose by US $5 in the short term, setting a new daily high of US $1,808.43 per ounce. The overall increase within the day expanded to over 1.2%, following the general rise in European and American Treasury Bond prices.Spot silver also set a new daily high of US $27.7908 per ounce, with an overall increase of more than 1.5% during the day.The Dow maintained a decline of more than 100 points.The 10-year U.S. bond yield fell by about 2.50 basis points in the short term, turning down as a whole during the day, and refreshed as low as 1.3313%; The 30-year U.S. Treasury yield also hit a new daily low of 2.1262%.","source":"highlight_wallstreetcn","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>One article to understand Yellen's statement: U.S. stock worries have eased, and the Bitcoin market has come to an end?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOne article to understand Yellen's statement: U.S. stock worries have eased, and the Bitcoin market has come to an end?\n</h2>\n<h4 class=\"meta\">\n\n华尔街见闻2021-02-23 10:50\n\n</h4>\n</header>\n<article>\nOn Monday, February 22nd, U.S. Treasury Secretary Yellen participated in an online event organized by the New York Times. In this informative discussion, she mentioned the U.S. debt problem, her views on Bitcoin, and corporate tax issues that the market is highly concerned about.Yellen believes that in the current low interest rate environment, the debt-to-GDP ratio, a traditional measure for assessing debt, is less important. The more important measure is the ratio of federal debt interest to GDP, which is currently about 2%, not higher than the 2007 level. Yellen said that the cost of debt can be partially recovered through stronger economic growth.She favors raising corporate taxes to pay for the Biden administration's long-term economic reconstruction plan and to help address Congressional concerns about debt sustainability. She also said,Willing to consider increasing capital gains rates while avoiding a wealth tax.Yellen believes that,Trading with Bitcoin is an'extremely inefficient way ', the amount of energy consumed to process these exchanges is staggering. Bitcoin is also a \"highly speculative asset\", and digital currencies may lead to a faster and cheaper payment experience, \"but there are many issues to be studied, including consumer protection and anti-money laundering.\"This criticism caused Bitcoin to plummet more than 17% and fall below $48,000 at the beginning of the U.S. stock market.At the same time, she said it makes sense for the Fed to study issuing a digital dollar currency, and that a digital dollar maintained by the Fed and based on blockchain \"may lead to faster, safer and cheaper payment methods.\"The White House said earlier that U.S. President Joe Biden will be briefed by Yellen on Friday.Don't look at debt-to-GDP ratioYellen said that her criterion for judging the success of the economic recovery is how quickly the unemployment rate returns to pre-epidemic levels, especially the extent to which people who lost their jobs in the service industry are re-employed. \"We need to ensure that those who are most hurt in this crisis will not suffer permanent harm.\"Consistent with Federal Reserve Chairman Powell's views, Yellen also believes that the current effective unemployment rate in the United States is close to 10%, mainly due to the fact that 4 million people withdrew from the labor market due to childcare responsibilities during the epidemic.Of course, if we only look at nominal data, the non-agricultural unemployment rate in January was 6.3%, which is approaching the pre-epidemic full employment level of 3.5%.She said that one of the key tasks of the Treasury Secretary is to ensure that the financial situation of the United States is good. However, in view of the long-term slow recovery of the United States from the subprime mortgage crisis in 2008, \"if the federal government fails to spend the necessary funds to get the economy back on track quickly, it will cause damage to the fiscal soundness of the United States and incur fiscal costs.\" The effect of issuing cash checks to the people is better than implementing fiscal policies during economic recession.She believes that,In the current very low interest rate environment, traditional indicators for assessing debt (such as the ratio of U.S. public debt to GDP) are no longer very important. The more important indicator is the ratio of federal debt interest to GDP, which is currently about 2%, not higher than 2007. level. Yellen said the cost of debt can be partially recovered by having a stronger economy:Because of the interest rate environment, I think we have more fiscal space than ever and should consider using it.In favor of raising corporate tax, not in favor of tax on the richYellen said last week that tax measures were needed to pay for the Biden administration's long-term economic reconstruction plan and help address Congressional concerns about debt sustainability.On Monday, she said the Biden administration advocated raising the corporate tax rate to 28%, willing to consider increasing capital gains rates while avoiding wealth taxes, \"Property taxes have been discussed, but President Biden is not in favor of them\", and such taxes will face serious enforcement problems.Yellen also said that the financial transaction tax is also worth studying, but there may be a downside to having to carefully examine the impact on ordinary investors.When asked whether the United States would take advantage of the low interest rate environment to issue 100-year \"century bonds\", Yellen said that the market demand for 100-year U.S. government bonds may be small and the liquidity will be light, and at the same time, she did not rule out considering issuing such securities. \"It certainly seems reasonable to issue long-term securities.\" The U.S. Treasury Department may study the potential of ultra-long bonds again. At present, the longest Treasury Bond is 30 years.Bitcoin is an extremely inefficient way to tradeYellen said she didn't think Bitcoin was being widely used as a trading mechanism andTrading with Bitcoin is an \"extremely inefficient way\" and the amount of energy consumed to process these exchanges is staggering.She believes that Bitcoin is also a \"highly speculative asset\" and digital currency may bring a faster and cheaper payment experience, \"but there are many issues that need to be studied, including consumer protection and anti-money laundering\".She said,It makes sense for the Fed to study issuing a digital dollar currency, a digital dollar maintained by the Federal Reserve and based on blockchain \"could lead to faster, safer and cheaper payment methods.\"Of course, there are still some questions that need to be solved first, such as what will be the impact on the banking system? Did it cause a large amount of deposits to flow from banks to the Fed? Does the Fed deal directly with retail customers, or does it try to do so wholesale? Are there financial stability issues? How to deal with money laundering and illicit financing?She said: \"There are many things to consider, but it is worth seeing.\"It is worth noting that ECB President Christine Lagarde has a similarly negative attitude towards Bitcoin. Two weeks ago, on February 11th, she publicly stated that it is very unlikely that major central banks around the world will hold Bitcoin as a reserve currency in the near future, and that Bitcoin is not a real currency. She also called for more regulation of cryptocurrencies in January, saying that Bitcoin has been used for illegal businesses such as money laundering.At the same time, Lagarde also hinted at the possibility of launching a digital euro. She said that COVID-19 pandemic has prompted the economy to speed up the adoption of digitalization and may have a digital euro currency ready in about four years.Pay attention to the hype of GMEWhen talking about retail investors' speculation in individual stocks such as GameStop (GME), Yellen said she needs to know the details of the matter. The U.S. Securities and Exchange Commission (SEC) is preparing a report that can provide a basis for potential regulatory actions:A very important question is, are investors fully informed and protected? It's too early to tell. It is important to treat retail investors fairly and give them the opportunity to trade in the market. She also said climate change will become a new focus for the U.S. Treasury Department, which may take the lead through the Federal Reserve or other regulators to help coordinate climate-related stress tests of banks and insurers. However, any climate-related stress test will not have \"the same status of restricting the expenditure and capital of financial institutions\" as conventional assessments.In addition, she also mentioned the diversity of personnel structure in American companies, and believed that the current employment situation is unfair between ethnic minorities and different genders. \"As far as organizational performance is concerned, a large number of studies have shown that diverse organizations perform better in all aspects. Within the Ministry of Finance, promoting diversity and inclusion will be a key goal and my top priority.\"During Yellen's speech, spot gold rose by US $5 in the short term, setting a new daily high of US $1,808.43 per ounce. The overall increase within the day expanded to over 1.2%, following the general rise in European and American Treasury Bond prices.Spot silver also set a new daily high of US $27.7908 per ounce, with an overall increase of more than 1.5% during the day.The Dow maintained a decline of more than 100 points.The 10-year U.S. bond yield fell by about 2.50 basis points in the short term, turning down as a whole during the day, and refreshed as low as 1.3313%; The 30-year U.S. Treasury yield also hit a new daily low of 2.1262%.\n<div class=\"bt-text\">\n\n\n source：<a href=\"https://wallstreetcn.com/articles/3620960\">华尔街见闻</a>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/658e43dbdffd81d27cb63cd2c688bcd0","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://wallstreetcn.com/articles/3620960","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"1186504868","content_text":"2月22日周一，美国财长耶伦参加了纽约时报组织的线上活动，在这场信息量巨大的讨论中，她提到了美国债务问题、对比特币的看法、以及市场高度关注的公司税问题。\n耶伦认为，在当前低利率环境中，债务占GDP比重这种评估债务的传统指标已不太重要，更重要的指标是联邦债务利息占GDP比重，这在当前约为2%，没有高于2007年的水平。耶伦称，可以通过经济更强劲的增长来部分收回债务成本。\n她赞成提高公司税，以支付拜登政府的长期经济重建计划，并帮助解决国会对债务可持续性的担忧。她还称，愿意考虑提高资本利得率，同时避免征收富人税（wealth tax）。\n耶伦认为，用比特币进行交易是一种“极其低效的方式”，处理这些交易所消耗的能源惊人。比特币还是一种“高度投机的资产”，数字货币可能会带来更快速和更便宜的支付体验，“但有许多问题需要研究，包括消费者保护和反洗钱”。\n这一批评导致比特币在美股盘初一度大跌超17%并跌破4.8万美元。\n与此同时，她表示美联储研究发行数字美元货币很有意义，由美联储维持并基于区块链的数字美元“可能会导致更快、更安全和更便宜的付款方式”。\n白宫稍早表示，美国总统拜登将在周五听取耶伦作简报。\n不要看债务占GDP的比重\n耶伦表示，她评判经济复苏的成功标准是，失业率重回疫情前水平的快慢，特别是服务业失去工作的人们再就业的程度，“我们需要确保在这场危机中受伤最深的人不会遭遇永久伤害”。\n与美联储主席鲍威尔的观点一致，耶伦也认为美国当前有效失业率接近10%，主要由于疫情期间因育儿责任导致400万人退出了劳动力市场。\n当然，如果只看名义数据，1月非农失业率为6.3%，正在趋近于疫情前充分就业的水平3.5%。\n她称，财长的关键任务之一是确保美国财政状况良好，但有鉴于美国从2008年次贷危机中的长期缓慢复苏，“如果联邦政府未能花费必要的资金使经济快速回到正轨，那将对美国的财政稳健性造成损害、产生财政成本”，向民众发放现金支票的效果要好于在经济衰退时实施财政政策。\n她认为，在当前非常低的利率环境中，评估债务的传统指标（例如美国公共债务占GDP比重）已不太重要，更重要的指标是联邦债务利息占GDP比重，当前约为2%，没有高于2007年的水平。耶伦称，可以通过拥有更强大的经济来部分收回债务成本：\n\n由于利率环境的原因，我认为我们拥有比以往更多的财政空间，应该考虑使用它。\n\n赞成提高公司税，不赞同富人税\n耶伦曾在上周表示，需要采取税收措施，以支付拜登政府的长期经济重建计划，并帮助解决国会对债务可持续性的担忧。\n周一她称，拜登政府主张提高公司税率至28%，愿意考虑提高资本利得率，同时避免征收财富税（wealth tax），“已经讨论过财产税，但拜登总统并不赞成”，这类税收将面临严重的执行问题。\n耶伦还表示，金融交易税也值得研究，但不得不仔细审视对普通投资者的影响，可能存在不利的一面。\n被问及美国会否利用低利率环境发行100年期的“世纪债券”时，耶伦既称对100年期美国政府债券的市场需求可能很小，流动性会很清淡，同时也没有排除考虑发行这种证券，“发行长期证券当然似乎是有道理的”，美国财政部可能会再次研究超长债券的潜力，目前最长国债是30年期。\n比特币是极其低效的交易方式\n耶伦称，她不认为比特币正被广泛用作交易机制，而且用比特币进行交易是一种“极其低效的方式”，处理这些交易所消耗的能源惊人。\n她认为，比特币还是一种“高度投机的资产”，数字货币可能会带来更快速和更便宜的支付体验，“但有许多问题需要研究，包括消费者保护和反洗钱”。\n她表示，美联储研究发行数字美元货币很有意义，由美联储维持并基于区块链的数字美元“可能会导致更快、更安全和更便宜的付款方式”。\n当然，仍有一些问题需要首先解决，例如对银行系统会有什么影响？是否导致大量存款从银行流入美联储？ 美联储是同零售端客户直接打交道，还是尝试以批发的方式这样做？是否存在金融稳定性问题？ 如何处理洗钱和非法融资问题？她称：“有很多事情需要考虑，但是值得一看。”\n值得注意的是，欧洲央行行长拉加德对比特币持有类似负面态度。两周前的2月11日，她公开表示，全球主要央行在不久将来持有比特币作为储备货币的可能性非常小，比特币并不是真正的货币。她还曾在1月时呼吁对加密货币进行更多监管，称比特币已被用于洗钱等非法业务。\n同时，拉加德也暗示了推出数字欧元的可能性。她称，新冠疫情已促使经济体加快数字化的采用速度，并且可能会在大约四年内准备好数字欧元货币。\n关注GME的爆炒\n在谈及散户爆炒游戏驿站（GME）等个股时，耶伦称需要了解此事的详情，美国证券交易委员会（SEC）正在准备一份报告，可以为潜在的监管行动提供依据：\n\n 一个非常重要的问题是，投资者是否充分了解情况并受到保护？现在下结论还为时过早。重要的是要公平对待散户投资者，让他们有机会在市场上交易。\n\n她还表示，气候变化将成为美国财政部的一个新关注重点，该部门可能会通过美联储或其他监管机构牵头，帮助协调对银行和保险公司进行与气候相关的压力测试。不过，任何与气候相关的压力测试，都不会像常规评估那样具有“限制金融机构支出和资本的相同地位”。\n此外，她还提到了美国公司人员结构多元化的问题，并认为当前雇佣状况在少数族裔和不同性别之间是不公平的，“就组织绩效而言，大量研究表明，多元化的组织在各方面表现都更好。在财政部内部，促进多元化和包容性将是关键目标，也是我的首要任务。”\n在耶伦讲话期间，现货黄金短线拉升5美元，刷新日高至1808.43美元/盎司，日内整体涨幅扩大至超1.2%，追随欧美国债价格普遍上扬的表现。\n现货白银也刷新日高至27.7908美元/盎司，日内整体涨超1.5%。\n道指则维持超过100点的跌幅。\n10年期美债收益率短线下挫大约2.50个基点，日内整体转跌，并刷新日低至1.3313%；30年期美债收益率也刷新日低至2.1262%。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":369728251,"gmtCreate":1614077135873,"gmtModify":1704887744283,"author":{"id":"3508576478748343","authorId":"3508576478748343","name":"看看叫","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3508576478748343","authorIdStr":"3508576478748343"},"htmlText":"Yellen, u and Biden suck","listText":"Yellen, u and Biden suck","text":"Yellen, u and Biden suck","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/369728251","repostId":1186504868,"repostType":4,"repost":{"id":"1186504868","kind":"news","pubTimestamp":1614048655,"share":"https://ttm.financial/m/news/1186504868?lang=en_US&edition=fundamental","pubTime":"2021-02-23 10:50","market":"us","language":"zh","title":"One article to understand Yellen's statement: U.S. stock worries have eased, and the Bitcoin market has come to an end?","url":"https://stock-news.laohu8.com/highlight/detail?id=1186504868","media":"华尔街见闻","summary":"在低利率环境中，债务占GDP比重这种传统指标已不太重要。","content":"On Monday, February 22nd, U.S. Treasury Secretary Yellen participated in an online event organized by the New York Times. In this informative discussion, she mentioned the U.S. debt problem, her views on Bitcoin, and corporate tax issues that the market is highly concerned about.Yellen believes that in the current low interest rate environment, the debt-to-GDP ratio, a traditional measure for assessing debt, is less important. The more important measure is the ratio of federal debt interest to GDP, which is currently about 2%, not higher than the 2007 level. Yellen said that the cost of debt can be partially recovered through stronger economic growth.She favors raising corporate taxes to pay for the Biden administration's long-term economic reconstruction plan and to help address Congressional concerns about debt sustainability. She also said,Willing to consider increasing capital gains rates while avoiding a wealth tax.Yellen believes that,Trading with Bitcoin is an'extremely inefficient way ', the amount of energy consumed to process these exchanges is staggering. Bitcoin is also a \"highly speculative asset\", and digital currencies may lead to a faster and cheaper payment experience, \"but there are many issues to be studied, including consumer protection and anti-money laundering.\"This criticism caused Bitcoin to plummet more than 17% and fall below $48,000 at the beginning of the U.S. stock market.At the same time, she said it makes sense for the Fed to study issuing a digital dollar currency, and that a digital dollar maintained by the Fed and based on blockchain \"may lead to faster, safer and cheaper payment methods.\"The White House said earlier that U.S. President Joe Biden will be briefed by Yellen on Friday.Don't look at debt-to-GDP ratioYellen said that her criterion for judging the success of the economic recovery is how quickly the unemployment rate returns to pre-epidemic levels, especially the extent to which people who lost their jobs in the service industry are re-employed. \"We need to ensure that those who are most hurt in this crisis will not suffer permanent harm.\"Consistent with Federal Reserve Chairman Powell's views, Yellen also believes that the current effective unemployment rate in the United States is close to 10%, mainly due to the fact that 4 million people withdrew from the labor market due to childcare responsibilities during the epidemic.Of course, if we only look at nominal data, the non-agricultural unemployment rate in January was 6.3%, which is approaching the pre-epidemic full employment level of 3.5%.She said that one of the key tasks of the Treasury Secretary is to ensure that the financial situation of the United States is good. However, in view of the long-term slow recovery of the United States from the subprime mortgage crisis in 2008, \"if the federal government fails to spend the necessary funds to get the economy back on track quickly, it will cause damage to the fiscal soundness of the United States and incur fiscal costs.\" The effect of issuing cash checks to the people is better than implementing fiscal policies during economic recession.She believes that,In the current very low interest rate environment, traditional indicators for assessing debt (such as the ratio of U.S. public debt to GDP) are no longer very important. The more important indicator is the ratio of federal debt interest to GDP, which is currently about 2%, not higher than 2007. level. Yellen said the cost of debt can be partially recovered by having a stronger economy:Because of the interest rate environment, I think we have more fiscal space than ever and should consider using it.In favor of raising corporate tax, not in favor of tax on the richYellen said last week that tax measures were needed to pay for the Biden administration's long-term economic reconstruction plan and help address Congressional concerns about debt sustainability.On Monday, she said the Biden administration advocated raising the corporate tax rate to 28%, willing to consider increasing capital gains rates while avoiding wealth taxes, \"Property taxes have been discussed, but President Biden is not in favor of them\", and such taxes will face serious enforcement problems.Yellen also said that the financial transaction tax is also worth studying, but there may be a downside to having to carefully examine the impact on ordinary investors.When asked whether the United States would take advantage of the low interest rate environment to issue 100-year \"century bonds\", Yellen said that the market demand for 100-year U.S. government bonds may be small and the liquidity will be light, and at the same time, she did not rule out considering issuing such securities. \"It certainly seems reasonable to issue long-term securities.\" The U.S. Treasury Department may study the potential of ultra-long bonds again. At present, the longest Treasury Bond is 30 years.Bitcoin is an extremely inefficient way to tradeYellen said she didn't think Bitcoin was being widely used as a trading mechanism andTrading with Bitcoin is an \"extremely inefficient way\" and the amount of energy consumed to process these exchanges is staggering.She believes that Bitcoin is also a \"highly speculative asset\" and digital currency may bring a faster and cheaper payment experience, \"but there are many issues that need to be studied, including consumer protection and anti-money laundering\".She said,It makes sense for the Fed to study issuing a digital dollar currency, a digital dollar maintained by the Federal Reserve and based on blockchain \"could lead to faster, safer and cheaper payment methods.\"Of course, there are still some questions that need to be solved first, such as what will be the impact on the banking system? Did it cause a large amount of deposits to flow from banks to the Fed? Does the Fed deal directly with retail customers, or does it try to do so wholesale? Are there financial stability issues? How to deal with money laundering and illicit financing?She said: \"There are many things to consider, but it is worth seeing.\"It is worth noting that ECB President Christine Lagarde has a similarly negative attitude towards Bitcoin. Two weeks ago, on February 11th, she publicly stated that it is very unlikely that major central banks around the world will hold Bitcoin as a reserve currency in the near future, and that Bitcoin is not a real currency. She also called for more regulation of cryptocurrencies in January, saying that Bitcoin has been used for illegal businesses such as money laundering.At the same time, Lagarde also hinted at the possibility of launching a digital euro. She said that COVID-19 pandemic has prompted the economy to speed up the adoption of digitalization and may have a digital euro currency ready in about four years.Pay attention to the hype of GMEWhen talking about retail investors' speculation in individual stocks such as GameStop (GME), Yellen said she needs to know the details of the matter. The U.S. Securities and Exchange Commission (SEC) is preparing a report that can provide a basis for potential regulatory actions:A very important question is, are investors fully informed and protected? It's too early to tell. It is important to treat retail investors fairly and give them the opportunity to trade in the market. She also said climate change will become a new focus for the U.S. Treasury Department, which may take the lead through the Federal Reserve or other regulators to help coordinate climate-related stress tests of banks and insurers. However, any climate-related stress test will not have \"the same status of restricting the expenditure and capital of financial institutions\" as conventional assessments.In addition, she also mentioned the diversity of personnel structure in American companies, and believed that the current employment situation is unfair between ethnic minorities and different genders. \"As far as organizational performance is concerned, a large number of studies have shown that diverse organizations perform better in all aspects. Within the Ministry of Finance, promoting diversity and inclusion will be a key goal and my top priority.\"During Yellen's speech, spot gold rose by US $5 in the short term, setting a new daily high of US $1,808.43 per ounce. The overall increase within the day expanded to over 1.2%, following the general rise in European and American Treasury Bond prices.Spot silver also set a new daily high of US $27.7908 per ounce, with an overall increase of more than 1.5% during the day.The Dow maintained a decline of more than 100 points.The 10-year U.S. bond yield fell by about 2.50 basis points in the short term, turning down as a whole during the day, and refreshed as low as 1.3313%; The 30-year U.S. Treasury yield also hit a new daily low of 2.1262%.","source":"highlight_wallstreetcn","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>One article to understand Yellen's statement: U.S. stock worries have eased, and the Bitcoin market has come to an end?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOne article to understand Yellen's statement: U.S. stock worries have eased, and the Bitcoin market has come to an end?\n</h2>\n<h4 class=\"meta\">\n\n华尔街见闻2021-02-23 10:50\n\n</h4>\n</header>\n<article>\nOn Monday, February 22nd, U.S. Treasury Secretary Yellen participated in an online event organized by the New York Times. In this informative discussion, she mentioned the U.S. debt problem, her views on Bitcoin, and corporate tax issues that the market is highly concerned about.Yellen believes that in the current low interest rate environment, the debt-to-GDP ratio, a traditional measure for assessing debt, is less important. The more important measure is the ratio of federal debt interest to GDP, which is currently about 2%, not higher than the 2007 level. Yellen said that the cost of debt can be partially recovered through stronger economic growth.She favors raising corporate taxes to pay for the Biden administration's long-term economic reconstruction plan and to help address Congressional concerns about debt sustainability. She also said,Willing to consider increasing capital gains rates while avoiding a wealth tax.Yellen believes that,Trading with Bitcoin is an'extremely inefficient way ', the amount of energy consumed to process these exchanges is staggering. Bitcoin is also a \"highly speculative asset\", and digital currencies may lead to a faster and cheaper payment experience, \"but there are many issues to be studied, including consumer protection and anti-money laundering.\"This criticism caused Bitcoin to plummet more than 17% and fall below $48,000 at the beginning of the U.S. stock market.At the same time, she said it makes sense for the Fed to study issuing a digital dollar currency, and that a digital dollar maintained by the Fed and based on blockchain \"may lead to faster, safer and cheaper payment methods.\"The White House said earlier that U.S. President Joe Biden will be briefed by Yellen on Friday.Don't look at debt-to-GDP ratioYellen said that her criterion for judging the success of the economic recovery is how quickly the unemployment rate returns to pre-epidemic levels, especially the extent to which people who lost their jobs in the service industry are re-employed. \"We need to ensure that those who are most hurt in this crisis will not suffer permanent harm.\"Consistent with Federal Reserve Chairman Powell's views, Yellen also believes that the current effective unemployment rate in the United States is close to 10%, mainly due to the fact that 4 million people withdrew from the labor market due to childcare responsibilities during the epidemic.Of course, if we only look at nominal data, the non-agricultural unemployment rate in January was 6.3%, which is approaching the pre-epidemic full employment level of 3.5%.She said that one of the key tasks of the Treasury Secretary is to ensure that the financial situation of the United States is good. However, in view of the long-term slow recovery of the United States from the subprime mortgage crisis in 2008, \"if the federal government fails to spend the necessary funds to get the economy back on track quickly, it will cause damage to the fiscal soundness of the United States and incur fiscal costs.\" The effect of issuing cash checks to the people is better than implementing fiscal policies during economic recession.She believes that,In the current very low interest rate environment, traditional indicators for assessing debt (such as the ratio of U.S. public debt to GDP) are no longer very important. The more important indicator is the ratio of federal debt interest to GDP, which is currently about 2%, not higher than 2007. level. Yellen said the cost of debt can be partially recovered by having a stronger economy:Because of the interest rate environment, I think we have more fiscal space than ever and should consider using it.In favor of raising corporate tax, not in favor of tax on the richYellen said last week that tax measures were needed to pay for the Biden administration's long-term economic reconstruction plan and help address Congressional concerns about debt sustainability.On Monday, she said the Biden administration advocated raising the corporate tax rate to 28%, willing to consider increasing capital gains rates while avoiding wealth taxes, \"Property taxes have been discussed, but President Biden is not in favor of them\", and such taxes will face serious enforcement problems.Yellen also said that the financial transaction tax is also worth studying, but there may be a downside to having to carefully examine the impact on ordinary investors.When asked whether the United States would take advantage of the low interest rate environment to issue 100-year \"century bonds\", Yellen said that the market demand for 100-year U.S. government bonds may be small and the liquidity will be light, and at the same time, she did not rule out considering issuing such securities. \"It certainly seems reasonable to issue long-term securities.\" The U.S. Treasury Department may study the potential of ultra-long bonds again. At present, the longest Treasury Bond is 30 years.Bitcoin is an extremely inefficient way to tradeYellen said she didn't think Bitcoin was being widely used as a trading mechanism andTrading with Bitcoin is an \"extremely inefficient way\" and the amount of energy consumed to process these exchanges is staggering.She believes that Bitcoin is also a \"highly speculative asset\" and digital currency may bring a faster and cheaper payment experience, \"but there are many issues that need to be studied, including consumer protection and anti-money laundering\".She said,It makes sense for the Fed to study issuing a digital dollar currency, a digital dollar maintained by the Federal Reserve and based on blockchain \"could lead to faster, safer and cheaper payment methods.\"Of course, there are still some questions that need to be solved first, such as what will be the impact on the banking system? Did it cause a large amount of deposits to flow from banks to the Fed? Does the Fed deal directly with retail customers, or does it try to do so wholesale? Are there financial stability issues? How to deal with money laundering and illicit financing?She said: \"There are many things to consider, but it is worth seeing.\"It is worth noting that ECB President Christine Lagarde has a similarly negative attitude towards Bitcoin. Two weeks ago, on February 11th, she publicly stated that it is very unlikely that major central banks around the world will hold Bitcoin as a reserve currency in the near future, and that Bitcoin is not a real currency. She also called for more regulation of cryptocurrencies in January, saying that Bitcoin has been used for illegal businesses such as money laundering.At the same time, Lagarde also hinted at the possibility of launching a digital euro. She said that COVID-19 pandemic has prompted the economy to speed up the adoption of digitalization and may have a digital euro currency ready in about four years.Pay attention to the hype of GMEWhen talking about retail investors' speculation in individual stocks such as GameStop (GME), Yellen said she needs to know the details of the matter. The U.S. Securities and Exchange Commission (SEC) is preparing a report that can provide a basis for potential regulatory actions:A very important question is, are investors fully informed and protected? It's too early to tell. It is important to treat retail investors fairly and give them the opportunity to trade in the market. She also said climate change will become a new focus for the U.S. Treasury Department, which may take the lead through the Federal Reserve or other regulators to help coordinate climate-related stress tests of banks and insurers. However, any climate-related stress test will not have \"the same status of restricting the expenditure and capital of financial institutions\" as conventional assessments.In addition, she also mentioned the diversity of personnel structure in American companies, and believed that the current employment situation is unfair between ethnic minorities and different genders. \"As far as organizational performance is concerned, a large number of studies have shown that diverse organizations perform better in all aspects. Within the Ministry of Finance, promoting diversity and inclusion will be a key goal and my top priority.\"During Yellen's speech, spot gold rose by US $5 in the short term, setting a new daily high of US $1,808.43 per ounce. The overall increase within the day expanded to over 1.2%, following the general rise in European and American Treasury Bond prices.Spot silver also set a new daily high of US $27.7908 per ounce, with an overall increase of more than 1.5% during the day.The Dow maintained a decline of more than 100 points.The 10-year U.S. bond yield fell by about 2.50 basis points in the short term, turning down as a whole during the day, and refreshed as low as 1.3313%; The 30-year U.S. Treasury yield also hit a new daily low of 2.1262%.\n<div class=\"bt-text\">\n\n\n source：<a href=\"https://wallstreetcn.com/articles/3620960\">华尔街见闻</a>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/658e43dbdffd81d27cb63cd2c688bcd0","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://wallstreetcn.com/articles/3620960","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"1186504868","content_text":"2月22日周一，美国财长耶伦参加了纽约时报组织的线上活动，在这场信息量巨大的讨论中，她提到了美国债务问题、对比特币的看法、以及市场高度关注的公司税问题。\n耶伦认为，在当前低利率环境中，债务占GDP比重这种评估债务的传统指标已不太重要，更重要的指标是联邦债务利息占GDP比重，这在当前约为2%，没有高于2007年的水平。耶伦称，可以通过经济更强劲的增长来部分收回债务成本。\n她赞成提高公司税，以支付拜登政府的长期经济重建计划，并帮助解决国会对债务可持续性的担忧。她还称，愿意考虑提高资本利得率，同时避免征收富人税（wealth tax）。\n耶伦认为，用比特币进行交易是一种“极其低效的方式”，处理这些交易所消耗的能源惊人。比特币还是一种“高度投机的资产”，数字货币可能会带来更快速和更便宜的支付体验，“但有许多问题需要研究，包括消费者保护和反洗钱”。\n这一批评导致比特币在美股盘初一度大跌超17%并跌破4.8万美元。\n与此同时，她表示美联储研究发行数字美元货币很有意义，由美联储维持并基于区块链的数字美元“可能会导致更快、更安全和更便宜的付款方式”。\n白宫稍早表示，美国总统拜登将在周五听取耶伦作简报。\n不要看债务占GDP的比重\n耶伦表示，她评判经济复苏的成功标准是，失业率重回疫情前水平的快慢，特别是服务业失去工作的人们再就业的程度，“我们需要确保在这场危机中受伤最深的人不会遭遇永久伤害”。\n与美联储主席鲍威尔的观点一致，耶伦也认为美国当前有效失业率接近10%，主要由于疫情期间因育儿责任导致400万人退出了劳动力市场。\n当然，如果只看名义数据，1月非农失业率为6.3%，正在趋近于疫情前充分就业的水平3.5%。\n她称，财长的关键任务之一是确保美国财政状况良好，但有鉴于美国从2008年次贷危机中的长期缓慢复苏，“如果联邦政府未能花费必要的资金使经济快速回到正轨，那将对美国的财政稳健性造成损害、产生财政成本”，向民众发放现金支票的效果要好于在经济衰退时实施财政政策。\n她认为，在当前非常低的利率环境中，评估债务的传统指标（例如美国公共债务占GDP比重）已不太重要，更重要的指标是联邦债务利息占GDP比重，当前约为2%，没有高于2007年的水平。耶伦称，可以通过拥有更强大的经济来部分收回债务成本：\n\n由于利率环境的原因，我认为我们拥有比以往更多的财政空间，应该考虑使用它。\n\n赞成提高公司税，不赞同富人税\n耶伦曾在上周表示，需要采取税收措施，以支付拜登政府的长期经济重建计划，并帮助解决国会对债务可持续性的担忧。\n周一她称，拜登政府主张提高公司税率至28%，愿意考虑提高资本利得率，同时避免征收财富税（wealth tax），“已经讨论过财产税，但拜登总统并不赞成”，这类税收将面临严重的执行问题。\n耶伦还表示，金融交易税也值得研究，但不得不仔细审视对普通投资者的影响，可能存在不利的一面。\n被问及美国会否利用低利率环境发行100年期的“世纪债券”时，耶伦既称对100年期美国政府债券的市场需求可能很小，流动性会很清淡，同时也没有排除考虑发行这种证券，“发行长期证券当然似乎是有道理的”，美国财政部可能会再次研究超长债券的潜力，目前最长国债是30年期。\n比特币是极其低效的交易方式\n耶伦称，她不认为比特币正被广泛用作交易机制，而且用比特币进行交易是一种“极其低效的方式”，处理这些交易所消耗的能源惊人。\n她认为，比特币还是一种“高度投机的资产”，数字货币可能会带来更快速和更便宜的支付体验，“但有许多问题需要研究，包括消费者保护和反洗钱”。\n她表示，美联储研究发行数字美元货币很有意义，由美联储维持并基于区块链的数字美元“可能会导致更快、更安全和更便宜的付款方式”。\n当然，仍有一些问题需要首先解决，例如对银行系统会有什么影响？是否导致大量存款从银行流入美联储？ 美联储是同零售端客户直接打交道，还是尝试以批发的方式这样做？是否存在金融稳定性问题？ 如何处理洗钱和非法融资问题？她称：“有很多事情需要考虑，但是值得一看。”\n值得注意的是，欧洲央行行长拉加德对比特币持有类似负面态度。两周前的2月11日，她公开表示，全球主要央行在不久将来持有比特币作为储备货币的可能性非常小，比特币并不是真正的货币。她还曾在1月时呼吁对加密货币进行更多监管，称比特币已被用于洗钱等非法业务。\n同时，拉加德也暗示了推出数字欧元的可能性。她称，新冠疫情已促使经济体加快数字化的采用速度，并且可能会在大约四年内准备好数字欧元货币。\n关注GME的爆炒\n在谈及散户爆炒游戏驿站（GME）等个股时，耶伦称需要了解此事的详情，美国证券交易委员会（SEC）正在准备一份报告，可以为潜在的监管行动提供依据：\n\n 一个非常重要的问题是，投资者是否充分了解情况并受到保护？现在下结论还为时过早。重要的是要公平对待散户投资者，让他们有机会在市场上交易。\n\n她还表示，气候变化将成为美国财政部的一个新关注重点，该部门可能会通过美联储或其他监管机构牵头，帮助协调对银行和保险公司进行与气候相关的压力测试。不过，任何与气候相关的压力测试，都不会像常规评估那样具有“限制金融机构支出和资本的相同地位”。\n此外，她还提到了美国公司人员结构多元化的问题，并认为当前雇佣状况在少数族裔和不同性别之间是不公平的，“就组织绩效而言，大量研究表明，多元化的组织在各方面表现都更好。在财政部内部，促进多元化和包容性将是关键目标，也是我的首要任务。”\n在耶伦讲话期间，现货黄金短线拉升5美元，刷新日高至1808.43美元/盎司，日内整体涨幅扩大至超1.2%，追随欧美国债价格普遍上扬的表现。\n现货白银也刷新日高至27.7908美元/盎司，日内整体涨超1.5%。\n道指则维持超过100点的跌幅。\n10年期美债收益率短线下挫大约2.50个基点，日内整体转跌，并刷新日低至1.3313%；30年期美债收益率也刷新日低至2.1262%。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":9,"commentSize":4,"repostSize":0,"favoriteSize":2,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1186504868","isCrawlerRequest":true}