The economically leading nations held a G20 meeting recently. In that meeting Janet Yellen shared her thoughts on how to avoid inflation in the country. And the US president, Joe Biden, reacted to the Russia-Ukraine war. He expected the G20 to condemn the war and its impact on the global economy.
In the G20 summit held in Bali, Indonesia, Yellen stated that “over the next couple of years, I definitely think that inflation will come back down to levels closer to the normal levels we are accustomed to.” She further added, “I think we see some good indications that inflation is poised to come down.”
Recently, Yellen reacted to the regulation of cryptocurrency in the United States. The US Treasury Secretary, Janet Yellen, officially stated that the country needs rigid regulations on the crypto industry. The lawmakers also accepted the idea of Janet Yellen; they said now is the time to implement new regulations on cryptocurrency.
Joe Biden “It will take time to get inflation back to normal levels, and we could see setbacks along the way, but we will keep at it and help families with the cost of living.”
The midterm elections that were recently held in the US totally changed the political dynamics in the country. Democrats once again created history by winning over Republicans. The Democratic Party retained its majority in the Senate, which it had first won in 2021. It won two seats in Arizona and Nevada, and one seat in Georgia was left blank due to candidates not getting 50% of the vote, which was required under state laws.
Joe Biden, the president of the United States, shared his happiness on Twitter by tweeting that “Tuesday was a good day for America, and a good day for democracy and a strong night for Democrats.” He further mentioned the remaining seat in Georgia “the bigger the number, the better the win.”
Sherrod Brown, Chairman of the Senate Banking Committee, stated, “It is crucial that our financial watchdogs look into what led to FTX’s collapse so we can fully understand the misconduct and abuses that took place. I will continue to work with them to hold bad actors in crypto markets accountable.”
On the basis of recent situations like the sudden FTX crash and the breakdown of crypto prices, lawmakers argued that they wanted new regulations on crypto assets. As the country was moving towards the crypto world, the Democrats of the United States believed that regulations on stablecoins and crypto assets would help in the development of the crypto market in the US.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2022/11/15/the-united-states-secretary-of-state-reacted-to-the-countrys-inflation/