Treasury: US will continue to press G20 countries to use fiscal stimulus

  
  Analysis

Comments from US Treasury official

  • US will press for fiscal stimulus to address climate change, income inequality and economic growth
  • Yellen working with congress to implement OECD international tax agreements through budget reconciliation
  • G20 finance leaders to discuss global minimum tax rate
  • Several countries — including US — pushing for global minimum tax rate above 15%
  • EU proposal for new digital tax is inconsistent with ‘pillar 1’ tax agreement
Ultimately, so long as the fiscal taps remain open, the reflationary trade will improve. Though the timing might not be straight forward.
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