Will Yellen Be Able to Implement Bernanke’s Quantitative Easing Exit Policy? Is It the Right Policy?
Last week, I blogged about Janet Yellen being approved by Congress as the successor to Ben Bernanke as the Fed’s new Chairperson and asked how Bernanke did as Chair of the Fed during the recession. Clearly, he led the Fed as it deftly used what I and others believe was a bold and creative use of monetary policy, particularly the Fed’s bond buying policy, known as Quantitative Easing. Last month, the Fed started to taper its $85 billion a month in bond purchases by $10 billion.
The concern with the taper was and is, did the Fed start to early? No one really knows yet. Some economists believe that the Fed should have started the taper sooner and some believe it’s still too early.
In this week’s REWIND of international business law news, trouble is brewing as French workers hold their managers captive, a Swiss drug maker is investigated for exaggerating in its advertising, and a New Zealand dairy giant suffers legal ramifications for selling contaminated baby milk.
Chairman Ben Bernanke’s eight-year term will come to an end on January 31st and successor Janet Yellen, who was approved by the Senate yesterday, will take over as Chair of the Fed. Bernanke’s most significant tool in guiding the U.S. out of the recession has been the “Quantitative Easing” bond buying program in its QE1, 2 and 3 forms.
The United States Citizenship and Immigration Services (USCIS) announced a new security enhancement to E-Verify to assist in preventing the fraudulent use of social security numbers (SSNs). The security enhancement will enable employers to identify potentially fraudulent use of SSNs for employment eligibility verification.
On November 14, 2013, the Treasury Department announced the signing of a bilateral intergovernmental agreement (“IGA”) between the United States and France, Agreement between the Government of the United States of America and the Government of the French Republic to Improve International Tax Compliance And To Implement FATCA.
The latest United Kingdom budget shows that the corporate tax rate in Britain will be cut by an additional one percent to 20 percent by April 2015. This is in stark contrast to the previous 28 percent rate which was in effect three years ago in 2010.
This week in international business, we look at intellectual property: the saga continues between Apple and Samsung with no signs of ending any time soon, the Senate and the House both take a crack at patent reform, and a patent office opens in the Silicon Valley.
I will be speaking in an upcoming Strafford live webinar, “Subpart F Income Taxation: Latest Compliance Developments” scheduled for Wednesday, December 18, 1:00pm-2:50pm EST.