Janet Yellen: “The interest we pay on excess reserves will be the key tool that we use in order to raise the Federal funds rate.”

There will be a negotiation over what to do when these tax cuts expire.

President Biden proposed a full-blown budget that contains substantial deficit reduction, $3 trillion over 10 years.

I definitely expect that we’re going to see them impact pricing.

the Biden Administration has generally taken the view that it is up to Congress to decide what to do about that.