The New Markets Tax Credit--as you mentioned, the President has proposed an additional allocation. And we think that it is an important way of channeling funds to qualified community development entities that, in turn, can make investments in low-income communities.
Yellen supports the New Markets Tax Credit for low-income community investments.
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I would expect inflation, on a year-over-year basis of this year, to shoot up to at least 3%, or slightly over, because of the tariffs.
He will oppose any tax increases on families earning under $400,000 at the same time that he will oppose keeping in place benefits that went to the wealthy.
The Fed does not have a 'good handle on how the tariffs are going to affect either spending in the labor market or inflation.'
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