United States Secretary of the Treasury Janet Yellen, announced Thursday that they will present the budget on Friday and added that they will increase the debt-to-GDP ratio a little more than 100%, as reported Reuters.
Additional declarations
“Frequent changes in tax rules are not desirable from a business planning point of view.”
“Most states will receive COVID-19 budget assistance in two tranches one year apart.”
“It is vitally important that fiscal policy is responsible, does not impose tax increases on future generations.”
“The real interest cost of federal debt is currently negative at current rates.”
“We will have a problem in terms of deficits after 2030 due to the aging of the population.”
Market reaction
These comments do not appear to have a significant impact on market sentiment. At time of writing, the S&P 500 Index was up 0.26% on the day to 4,207.
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