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<h2 id="header-0">After the midterm elections, the Biden administration&#39;s Treasury Secretary is expected to resign.</h2>According to Axios, Yellen&#39;s resignation may signal a significant reorganisation of the President&#39;s economic team. A macroeconomic crisis is currently affecting the United States of America. Yellen has come under fire from market participants for underestimating the financial crisis.It&#39;s unknown whether Janet will stay after the November elections. The Senate must confirm any potential nominee for a cabinet position. Which political party will govern the parliamentary body after November 8 will depend on the results of the midterm elections. The administration&#39;s plan for a reshuffle may be hampered if the Republicans win control of the Senate following the elections. According to polls, the Democratic Party is currently leading in the campaign for the Senate.Janet Yellen&#39;s Effect on CryptoFor the prospective acceptance of cryptocurrencies in the US, the US Treasury is a crucial institution. The censorship of cryptocurrency mixing provider Tornado Cash recently brought the Office of Foreign Assets Control to public attention. Because of alleged money laundering activities, Torndao was censored by the US Treasury&#39;s OFAC.Yellen has also said a few things that are anti-crypto. She cautioned against including Bitcoin in retirement funds. She emphasised the potential dangers connected to cryptography in another lecture. She emphasised the necessity of crypto regulation following the <a href="https://www.coingabbar.com/en/crypto-currency/terra-luna-2-luna-prices-usd" rel="noopener noreferrer nofollow">Terra-LUNA</a> crash during the crypto winter.Yellen is crucial to the nation&#39;s macroeconomic health as well. Yellen recently said that she does not perceive any unpredictable market function. Her comments caused market investors to react negatively as the economy continues to struggle under the dual danger of inflation and a recession.Who is a possible successor?According to Axios, Yellen&#39;s probable replacements include the vice chair of the Federal Reserve, Lael Brainard, and the secretary of commerce, Gina Raimondo. It is still unknown whether their hiring will benefit the crypto community.

Janet Yellen, the US Treasury Secretary, is scheduled to depart

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Další články publikované 29. 9. 2022

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