treasury secretary janet yellen soberly. get back to chelsea to talk about that in just a moment because it was a declaration of war on tax havens around the globe u.s. treasury secretary janet yellen is proposing for a global minimum tax on corporations is met with approval not just from the i.m.f. dispassionately here in europe and it's causing some unrest in the cover of. the british virgin islands are highly prized by some corporations the ones that shift profits across national borders into shell companies in order to pay hardly any taxes u.s. treasury secretary janet yellen proposal for a global minimum tax rate of 21 percent was aimed at these companies washington urgently needs additional revenue because the pandemic is costing billions the u.s. treasury loses nearly $50000000000.00 a year to tax cheats according to the advocacy group tax justice network germany comes in 2nd and france is also among the top losers no wonder yemen is finding support in europe. the u.s. treasury secretary janet yellen said yesterday th

treasury secretary janet yellen someone europe say they're all for it. and contact lens shopping in moscow and why data activists are steering clear of it. this is c.w. business i'm joined now by law on how you can join us. here's the good news the global economy is expected to grow by 6 percent this year the bad news the rebound will be far from even that's the message from a report by the international monetary fund out today while spending programs and vaccine rollouts are guiding richer nations towards recovery for countries especially those that rely on tourism are falling even further behind as a result last year the economic crisis pushed an additional $95000000.00 people into extreme poverty defined as living on less than one u.s. dollar and 90 cents a day vaccine inequality and lack of polish support is worsening the situation so while there is a rebound there are some caveats here's i.m.f. chief economist he took open not what we are seeing is multi-speed recoveries around the world what that means is that countries that have very stiff differe

treasury secretary janet yellen something europe they're all for it. to contact lens shopping in moscow and why data activists are steering clear of it. this is the w. business i'm to know them and have the you can join us well here's the good news the global economy is expected to grow by 6 percent this year the bad news the rebound will be far from even and there might be permanent scarring that's the message from the world economic outlook a report by the international monetary fund that has just been released take a look if all goes according to plan it would be the fastest expansion of the global economy since the i.m.f. started tracking growth in 1988 the fund says such an optimistic forecast is only possible thanks to a repetition cool response to the pandemic but there's no doubt some sectors have suffered irreparable damage now because the crisis has exhilarated the transfer made of forces of digitalisation and automation many of the jobs lost are unlikely to return requiring work or reallocation across sectors which unfortunately often comes

so when janet yellen comes on -- and janet yellen, make no mistake about it, is an agent of the big banks. she was chairman of the federal reserve 8 years and probably did more to increase income inequality in this country with the policies of the federal reserve than any other entity that we can discuss. these interest rates are not fixed. this is like getting into a variable loan back in 2008. if the market decides, and the federal reserve cannot rig those interest rates anymore, those are rolling interest rates. they are going to go up. if interest rates go up more than 1% or 2%, we are in big trouble. host: we will get a response. guest: inflation -- inflation has not been a problem in this country for four decades. what is interesting at the moment -- people are supporting this investment program biden has put out, particularly when it shows it will be partly funded by increasing taxes on big corporations. trump lowered the rate -- i believe it was 35% -- to 21%. that benefited shareholders. i'm not dissing shareholders, but it did not and if it the broader economy or people, so i th

treasury secretary janet yellen has called for won't global cooperation and hamann ised minimum corporate tax rate across the world's major economies also coming up a major blockage of one of the world's most crucial shipping routes is forcing logistics companies to rethink their strategy. and how lockdowns in the philippines have given rise to a growing poor make coffee sector. alone welcome to the business of monica johnson berlin good to have you with us and america 1st must never mean america alone that is what janet yellen said in her 1st major speech as u.s. treasury secretary in it she called for a global minimum corporate tax rate for companies that work internationally and former presidents donald trump had rejected such efforts fearing that it would put u.s. companies in a worse position the biden administration on the other hand is seeking a compromise solution within the framework of the negotiations of the organization for economic cooperation and development the republicans still warn that high of corporate tax rates would prompt companies to leave the united states in respo

bruce: so, president biden in his plan last week and then since then, janet yellen, treasury secretary both talked about how the u.s. would like a 21% minimum tax, which is well above the 12.5% that have been floated. the plan also calls for taxing rights to be allocated based on a formula that accounts for revenues generated within a specific country. so, the idea is that the plan would not necessarily raise companies' taxes, but what change where they pay those taxes based on where they have users or consumers and based on just where they are headquartered. annmarie: bruce einhorn, thank you so much for a recap of what is going on with the g20. steven major, hsbc global head of fixed-income research, still with us. steven major, he heard a bit there from all those finance chiefs and even an oecd head. how realistic is a global tax rate? steven: well, i think it will take time. it is a step in the right direction, because we have not heard too much about taxation so far this year. it has been mainly about spending and fiscal deficits. and it is required to balance the books longer run

treasury secretary janet yellen is pushing minimum tax idea from yellen, major companies around the worldeep higher rate, companies will not move around to find the best deal. at issue getting 37 countries in the oecd to sign on that. they're looking at changes in the treasury code. the officials say the administration can change the tax code to address firms shifting profits to low-taxed countries. officials say the changes will prevent companies from claiming residence in a tax haven country t can remove tax breaks for companies who try to avoid paying higher corporate tax rate in the u.s. by being offshore. the global approach, how the administration looking at all of this, highlighted within the last 30 minutes as the treasury secretary addressed, chicago council on global affairs. listen. >> for the united states to prosper our neighbors too must prosper. in the modern world, recession, instability and crime abroad find ways to wash upon our shore. strong and stable economy abroad make us safer. we will benefit if countries can maintain or create economic, social, and political condi

treasury secretary janet yellen is making that outreach. a glimpse into some of the tax changes that could happen. treasury official tells me that the administration could change the tax code to prevent companies from claiming residence in tax haven countries. also, it can be removed or can remove tax breaks for companies that try to avoid paying higher corporate tax rate in the u.s. by being offshore. now all of this was made more difficult again by senator joe manchin saying the democrats don't seem to be, all democrats don't seem to be on board yet. charles? charles: democrats in the senate which is the most important part. edward, great work, my friend. treasury secretary janet yellen as you heard pushing for the global minimum corporate tax rate. this after the white house proposed raising to 28% to 21% here in this country. why would any nation agree to a higher tax rate than they already have, especially if they could potentially attract more u.s. companies without changing? >> i want to bring in capital wealth planning market strate

treasury secretary janet yellen called for a global corporate tax rate during a speech on global affairs. this runs 45 minutes. od morning. president of the chicago council on global affairs. thank you all the specially for a members for joining us this live program today. just as a reminder, the chicago global affairs is nonprofit and nonpartisan independent organization and therefore the views expressed by the individuals we use our platforms are there on it and they do not represent the institutions positions or views of the council. and out main program a party covid-19 negative effects from the global economy has exasperated the existing inequalities and highlighted the importance of writing solutions through international cooperation. today, your secretary treasury janet yellen joins us here the chicago council global affairs to discuss the u.s. roll in providing inclusive and sustainable global economic recovery ahead of this week's international monetary fund annual spring meeting. after the secretary's remarks all introduce a number of our councilmembers to the questions and to

treasury secretary janet yellen to speaking at the chicago council of global affairs. we will take some of her q&a later on in the hour. coming up, ethan harris, bank of america securities head of global economics. we will get his concerns about the divergence and recoveries all around the world. this is bloomberg. ♪ ritika: i'm riupta. let's take a look at your first word news. a big win for google today at the supreme court. justices ruled google did not commit copyright infringement when it used oracle's programming code in the android operating system. that spares google from paying what would have been billions of dollars in damages. the sectors hit hardest independent on our bouncing back. the ism services index soared everyone in england is being urged to take a coronavirus test twice a week, part of prime minister boris johnson's plan to reopen the economy. test kits will be free and usefulness of covid passports be assessed for widescale use. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in mo

to that end janet yellen pushing for a global minimum corporate tax rate in remarks today. 59 minutes left to go in the session. record close watch, scott for the s&p and dow. >>> coming up cleveland fed president loretta mester joins us following friday's big jobs number we'll ask her how a stronger than expected rebound could impact policy. plus world bank president david malpass joins us as well let's get straight to the big stories we are watching this hour mike santoli is tracking the market rally joining us with a look at where retail investors are putting their money to work is j.j. kenihan. mike, you start off with the market action. >> yeah, scott pretty positive action it was pretty much a gap at the open and we've got sideways since then good economic news does still get traction in the market s&p 500 over the last year i pointed out the 4,000 on the s&p didn't have a whole lot of technical significance people were targeting 4,100 as a little bit of a test because it coincides with the upper end of this trading range we've been in for a while. if we talk about the market ge

first of which is janet yellen and i global corporate tax.he other is individual taxes out of d.c. which one should be more concerning for investors in the markets? courtney: thank you for having me. i think it really depends on what your business is that you have -- your business is. if you have a lot of international exposure, you are going to be really concerned about the provisions. it really depends on the sector and industry at an individual company level, but there's really no area of corporate america and small businesses that aren't going to be impacted by these type increases area -- these tax increases. alix: what about within the democratic party? courtney: within the democratic party, i think it is really important to remember that there is really no democratic senator against corporate tax increases of some type. it is really just the level of corporate tax increase. we have been saying president biden's proposal is 28%. there are some progressive democrats that want to go back to the 35% rate. what we really think at strategas

one corner of the story which is the idea being sold by president biden and treasury secretary janet yellen and the key part of the tax hike is what they call a race to the bottom, to be blunt respectfully there is no such thing, there is no race to the bottom, it is true enough and good enough that many countries around the world have got the corporate tax rate, but no one is anywhere near 0, let's get serious, there is no race to the bottom, there is no 0, a lot of countries by the way have cut their tax rates, this is corporate tax rate to something around the mid-20s and they also provide various tax credits and deductions to help companies without necessarily lowering the marginal tax rate but it helps companies to invest, these are deductions and tax credit, the problem here is 0 - 2 the biden yellen plan would not only raise tax rates but broaden the base which is supposed to lower tax rates and broaden the base and make it as simple and fair tax cut. the important tax credits and deductions that have a capital investment funding on his buddy that creates more jobs and higher wages.

to try to pay for this $2.00 trillion dollars plan and we've also heard from treasury secretary janet yellen who says that she wants a global minimum corporate tax to make sure that a lot of those jobs don't go offshore is whenever they increase the measures here is there any chance that the u.k. or. even the e.u. would get on board with that especially when they're looking at what the us is doing a possibility that they could be getting those jobs there well i would think it's very interesting rachel when you know why i'm not meaning the us sort of touts competition in america and then wants everybody else not to be competitive it's sort of saying it's like saying to other nations well you know just don't do anything in your own self-interest abide by what we now wants because we want to live to be on a level playing field it is being has sturrock and tons of it is no i don't know that 11 change in terms of these corporate tax rates for example has won the island had always lowered its tax rate lower than that of the u.k. and did attract a lot of international companies that went to ireland

. >> janet yellen called for a global corporate tax rate to the chicago council on global affairs. this runs about 45 minutes. >> good morning. thank you all for joining us for this live program today. just as a reminder, this is a nonprofit, nonpartisan, independent organization. nafta our main program. covid-19's negative effects on the global economy has exacerbated existing inequalities and highlighted the importance of finding solutions through international cooperation. operation. today, your secretary treasury janet yellen joins us here the chicago council global affairs to discuss the u.s. roll in providing inclusive and sustainable global economic recovery ahead of this week's international monetary fund annual spring meeting. after the secretary's remarks all introduce a number of our councilmembers to the questions and to the secretary yellen but by now it is my honor and privilege to introduce today's speaker. janet yellen is the 78th secretary of secretary to the economist by training and to accomplish after almost 50 years in the academy of public service. she is the

janet yellen is the 78th state of the secretary. she took office after almost 50 years in the academy of public service. she is the first and only person to have served both as the head of the council on economic advisors, head of federal reserve, and a secretary of the treasury. secretary yellen, thank you for joining us. we look forward to hearing your remarks. >> thank you so much and thank you to the council for the invitation. america is strongest when we engage with the world. when i was born the united states was still recovering from the great depression and world war ii. these tragedies cost countless lives. too many families lost more than everybody but we learned an invaluable lesson. the united states would not go it alone. in the aftermath of the destruction the united states sent strong security alliances that have helped keep our country safe and helped our economies flourish. we created global institutions such as the united nations and financial institutions such as the international monetary fund and world bank to

the thing with janet yellen. notice what she is doing here. says a big cut corporate taxes it's eight race to the bottom part i will tell you why she said that. because progressives hate competition. when competition exists it means individual have choice, businesses have choice. they can do what they want, they can move to where they want. the biden administration is afraid that if we raise corporate taxes and they are right to be afraid. if we raise corporate taxes is going to drive capitol out of this country great so what is janet yellen trying to do? she's trying to get all the other developed countries around the world to raise their minimum tax rate. so we get rid of competition. collude with them. but it's pursuing right now. it will not work. it makes you nice it's less competitive. joe biden knows that. janet yellen knows that which is why they will not admit right now that our corporate tax rate is actually in the middle of developed countries. it is not way down there. we are finally competitive. any move up is going to put us at t

treasury secretary janet yellen some in europe say they're all for it. time contactless shopping in moscow and why data activists are steering clear of it. this is your business i'm joined now by law on how you can join us sir. here's the good news the global economy is expected to grow by 6 percent this year the bad news the rebound will be far from even that's the message from a report by the international monetary fund out today while spending programs and vaccine rollouts are guiding richer nations towards recovery poor countries especially those that rely on tourism are falling even further behind as a result last year the economic crisis pushed an additional $95000000.00 people into extreme poverty defined as living on less than one u.s. dollar and 90 cents a day facts seem inequality and lack of polish support is worsening the situation so while there is a rebound there are some caveats here's i.m.f. chief economist he took open not what we are seeing is multi-speed recoveries around the world what that means is that countries that have very steep

sources say secretary janet yellen will decline to name janet yellen as the currency manipulator and is weighing reversals of trump era policies. what kind of changes is she reportedly considering and does the data back it up given we have seen relative stability in the chinese currency anyway? >> absolutely. so far, there are no indications for the rest of us china is -- it's currency. the treasury department is likely to say as soon thursday they will not be designating china a currency manipulator. a lot of people might remember under hank paulson and secretary tim geithner or during the global financial crisis when there were a lot of clear indications china was intervening in the currency, they declined to designate china as a manipulator to maintain diplomatic ties and under president donald trump in years past even though there were no clear signs of currency manipulation, that tag was applied. janet yellen is seen to bring some intellectual have to back to the report. shery: what about right now? how is the yuan doing and can china be seen as manipulating it's currency now? >

janet yellen has a lot of respect and influence around the world. but her ability to get other countries like china, russia or tax havens around the world to raise up their corporate tax rate is not going to happen. we are going to need more leaders to realize that it could be a long-term good move for the american people and for the american economy. >> janet gellen. she wants everybody. >> matt gaetz saying he spoke to donald trump in many, many places. matt gaetz said that the president has called me when i was in my car, asleep. on the throne, on airplanes in nightclubs and in the throws of passion. yes, i answered. that is who we are talking about. >> let me ask you about janet yellen. she said the world should embrace a minimum corporate tax rate to avoid a race to the bottom. been the countries that advertise. but her ability to do it will be slim to none. >> ashley parker, the president, it was the thing that he did from the day he was sworn in. we had 4 million the other day. he is up against a lot of governors and local municipalities and

joe biden knows that, janet yellen knows that which is why they won't admit right now that our corporate rate is actually in the middle of developed countries. it that way down there, we are finally competitive. any move up put us at the top of the list. you don't want to be at the top of. kennedy: absolutely not many countries are at the top of those freedom indexes. the u.s. again, not close and we are only dropping. what i don't understand she says the corporate tax grab, federal government reaching in and taking more money from corporations and individuals, somehow it's not a zero-sum game. it somehow a win-win. this is a rational statism that i don't even think she believes. >> she can't. corporate tax rate increases are lose lose lose because it means one of three things. customers pay more money, workers get lower wages or shareholders, retirees, people trying to save, get a lower return. corporate taxes don't go to anybody except those three and those three groups and those three groups are average americans so when you talk about taxes not going up on people who make less inform

treasury secretary janet yellen has outlined a case for a uniform corporate tax rate across the world's major economies. she said the u.s. is working with g20 nations to find an appropriate minimum rate. she signaled china saying, the u.s. needs a strong presence in global markets to level the playing field. north korea will not participate in the tokyo olympics to safeguard its athletes from covid, making it one of the first countries to skip the games because of the pandemic. in the u.s., new york's vaccination program picked up speed with a record of a half million doses administered. brazil will vaccinate 2 million people per day next month. blackrock is examining its business to see how it may have contributed to racism in the financial system. the world's biggest money manager is planning to undergo an independent racial audit of its operations following a shareholder request. goldman and citi have asked shareholders not to back similar orders, saying they have taken steps to address racial injustice. global news, 24 hours a day, on air and at bloomberg quicktake, powered by more

this as janet yellen is said to decline labeling beijing a currency manipulator. leadership battle with angela merkel. the conservative bloc adds to uncertainty ahead of september's elections. very good morning to the show. there was no incident of crisis in the bond market. the auction went, but annmarie hordern, there is one chart we all coalesced around. it is not cpi. it is when will be hit an exit from the covid and james bullard set the agenda. what is the magic number? good morning. annmarie: good morning. it is to get to 75% of americans vaccinated. you said at the end of your program, around your birthday. it is not exactly august 8, it is august 9 where the data shows we will get to 75% inoculations in the u.s. and that is when bullard is saying we can start talking about tapering then because that means the economy is on a better trajectory. manus: absolutely. he was very wary when he was talking about resetting the agenda. he would leave that to the generals at the top. it is about cpi data today. pti data, you are seeing the cost push come through. on

treasury secretary janet yellen out on the case for uniform corporate tax rate across world with major. in her speech on economic policy that yellen says the u.s. is working with g20 nations to find an appropriate minimum rate and signaled out china saying the u.s. needs a strong presence in global markets to level the playing field. u.k. prime minister boris johnson rebuilt a bold plan to reopen the economy, which includes twice a week covid testing provided for free. under the easing outdoor attractions and restaurants can reopen for the first time in four months. foreign travel could also be permitted from may 17 under new guidelines. however, johnson warned britain's not to let their guard down. thailand order the closure of 200 nighttime entertainment venues including bars in the capital after a new spike in covid infections. that two-week closure came ahead of the thailand near holiday next week and the shuttle may be extended if the outbreak does not ease by april 19 according to officials. investment chairman says it is only time before another firm implodes in a similar manage

janet yellen and her team are considering rolling back some trump era policies.chancellor angela merkel's succession took a turn. this csu is turning its back on the cdu. this sets off a tense showdown months before a national election. president biden calls for calm in minnesota after an officer shot and killed a 20-year-old black mentoring a traffic stop. by and said he spoke to the states governor and called for a full investigation into the death of daunte wright. body cam footage indicated that the officers shot him with a gun instead of a taser. this comes during the trial of derek chauvin in minneapolis. + global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i am vonnie quinn. this is bloomberg. haidi: the popularity of by now, pay later services continue to serve -- surge. paypal announcing plans to enter the australian market. zip is becoming a global player with customer grope of 88%. here is zip chief operating officer peter great joining us from sydney. always

sputnik no treasury secretary janet yellen and international monetary fund managing director, they joint world bank president for a discussion on the global economic recovery from the covid-19 pandemic. this is just over half an hour. stomach it is a pleasure to be with imf director and with u.s. treasury secretary janet yellen to discuss the economic recovery and the kickoff of our spring meetings. the world of phases major challenges including covid climate change rising poverty and inequality and growing fragility and violence in many countries. the inequality is most apparent in the direct effects of covid that hits informant workers and the vulnerable the most by the inequality extends will be on that to vaccinations. the concentration and wealth, the unequal impact of the fiscal stimulus and outside purchases and the end balance in debt creditor relationships perfectly for people need poorest countries the world bank group is leading forward as much as possible to face these challenges in response to covid-19 b took broad fast action and quickly achieved over 100 active operations

treasury secretary janet yellen has been calling for one especially to prevent corporate tax avoidance he idea is also finding supporters here in europe the british virgin islands are highly prized by some corporations the ones that shift profits across national borders into shell companies in order to pay hardly any taxes u.s. treasury secretary janet yellen proposal for a global minimum tax rate of 21 percent was aimed at these companies washington urgently needs additional revenue because the pandemic is costing billions the u.s. treasury loses nearly $50000000000.00 a year to tax cheats according to the advocacy group tax justice network germany comes in 2nd and france is also among the top losers no wonder yemen is finding support in europe. the u.s. treasury secretary janet yellen said yesterday that she's in favor of a worldwide minimum corporate tax write this is a matter that i've been working on for a very very long time. but let's take the american 21 percent and use it as a global minimum tax rate and these could fly and also and business the tax havens oh side if you will

treasury secretary janet yellen to kick off our spring meetings. the world faces major challenges, including covid, climate change, rising poverty and inequality and growing fragility in many countries. the detect effects of covid, the informal workers and vulnerable the most. the inequality extends well beyond that to vaccinations, the concentration in wealth, the unequal impact of the fiscal stimulus and asset purchases and the imbalance in debtor-creditor relationships, particularly for people in the poorest countries. the wobank group is leaning forward as much as possible to face these challenges. in response to covid-19 we took broad action and quickly acleechd over 100 operations for developings company. commitments raise 65% from 2020 and 2019. and we've conducted over 100 capacity assessments, many even before vaccines were available. we are now passing several specific country vaccine financing operations each week through our board with already 10 approved. 10 more scheduled in april and around 30 more expected in may and june for a tota

that as treasury secretary janet yellen stepped up her sales pitch for president biden's proposed tax code. shery: this is a picture across wall street. u.s. futures extending gains after fluctuating throughout regular session. we had stocks higher with the s&p 500 being led by communication as tech stocks are falling from secretary -- falling from highs as secretary yellen said she would raise corporate tax rates. we see that move into mega cap tech stocks. small caps under pressure. the 10 year yield moved back toward the 170 level. oil losing ground. reversing those gains we saw during the regular session, when we had more optimism over the reopening's here in the u.s. let's see how we are setting up across asia. here sophie kamaruddin in hong kong. sophie: i want to highlight a quick update on trip.com listing that it is aiming for in hong kong. . it is offering 31 million shares at 333 hong kong dollars with that trading expected to begin april 19. when it comes to asia, the aussie dollar holding on to lawsuits while we see city stocks set for gains with the futures climbing for

sometimes they say, cenk you can't say that because janet yellen is a woman. wait, she got paid millions by giant corporations. that's empowering women? no was not. not it's empowering who's been an you cannot be ahead of the federal reserve and treasury secretary and told me i cannot or tell anyone that you cannot get criticized because you are a woman, that is insane. by the way that's not female empowerment that the exact opposite of female empowerment paid say please i am just a woman do not criticize me. no, that is nonsense of not going to miss los angeles yellen and not going to listen with marjorie taylor greene or' pelosi does not matter which side you're on. but he say hey it's all nonsense white people get treated the same as white people in this country my guess is you are white. [laughter] and so you have not actually experience it, brother. i mean for god's sake walk in someone else's shoes for a second period every one of these is verifiable you can verify it on your own, okay? so black people and white people smoke pot at about the same rate. b

government in cahoots janet yellen jay powell and whoever the president is at this time i am not keeping track but they essentially coordinate and conspire to issue trillions of dollars worth of debt and the interest has to be paid by the u.s. taxpayer most of your taxes now go to the top 110th of one percent to pay their bond interest by design that's not inflation that's not the flesh that's not democracy that's not a republic that's neil feudalism and the people obviously who can't afford health care can't afford housing can't afford to keisha who are living in the mud living in the dirt in america opiate addicts strung out on dope all day they're not having a good time but nobody covers because if they did as you say they would lose their jobs. right well again like a lot of people like the inflation and the house prices that are the result of of these huge amounts of that but also the way describes that is like ok they dream it is going to collapse as well just says brooksley born predicted back in 2000 that it would cause a financial crisis as it did in 2008 and it will do in 2021

. >> treasury secretary janet yellen called for a global corporate tax rate during a speech to the chicago council on global affairs. this runs 45 minutes. >> good morning. president of the chicago council on global affairs. thank you all the specially for a members for joining us this live program today. just as a reminder, the chicago global affairs is nonprofit and nonpartisan independent organization and therefore the views expressed by the individuals we use our platforms are there on it and they do not represent the institutions positions or views of the council. and out main program a party

tomorrow, janet yellen speaking at those meetings. we will see a reboot of eu-turkey relations.leyen meets resident erdogan -- president erdogan. and on wednesday central bankers gather for their meeting. thursday, watch out for that latest ecb meeting. then fed chair jay powell will speak on the global economy at the imf meetings. the european commission has approved a 4 billion euro rescue plan for air france klm, aimed at strengthening the indebted carriers balance sheet and the conversion of government loans into hybrid bonds, and raising fresh equity. joining us from france, how important is this plan for the airline? is it a necessity? >> it is a necessity given the impact of the covid crisis on air france and the travel industry. last year the airlines benefited from 10 billion euros in direct loans. as much as 3 billion of existing loans will be basically converted into a permanent loan. air france, the french arm of air france klm, will receive up to one billion euros a fresh capital injection. the french stake will raise to nearly 30%, but the european commission asked

amy: then as treasury secretary janet yellen calls for a global minimum tax on corporations, we will look at president biden's more than $2 trillion infrastructure proposal. pres. biden: it is a chance to win the future, paid for by asking big corporations committee which do not pay any taxes at all, just to begin to pay their fair share. amy: we will speak to darrick hamilton, founder of the new school's institute on race & political economy. all that and more, coming up. welcome to democracy now!, democracynow.org, the quarantine report. i'm amy goodman. in minnesota, the doctor who tried to save george floyd's life at a minneapolis emergency room last may testified monday asphyxia was the likely cause of floyd's death, with no evidence floyd was killed by a heart attack or drug overdose. dr. bradford langenfeld's testimony came as the second week of former police officer derek chauvin's murder trial got underway. also testifying was minneapolis police chief medaria arradondo, who told prosecutors chauvin violated department policies and showed a disregard for life when he kneeled

i just want to leave that one there. >> you mentioned janet yellen. she said the world should embrace a minimum corporate tax rate to avoid a race to the bottom. that's what you were talking about that china and others are not likely to go ahead with that. >> of course, ali. think about countries that advertise -- they want to get business saying, we are a tax haven. i understand why janet yellen wants to do this, but her ability to do it is going to be slim to none. >> ashley parker, the president trying to -- the thing he did from the day he was sworn in, he wants to get this pandemic under control. we're averaging 3 million jabs in arms a day. we had 4 million the other day. but he's up against a lot of governors and local municipalities and springtime, and a bunch of vaccinated people and people who are tired of being shut in at home who want to get out there. this is the race against the vaccine, the virus right now. >> it's a very delicate two-step he's doing women saw it again today when he made those remarks. but he's trying to celebrate what

deemed currency manipulator following a decision by newly minted treasury secretary janet yellen now this and. it comes as part of a fresh report from the treasury that analyze the exchange and economic policies of nations that conduct trade with the united states the movie ellens 1st in the new position is doubtful to have any major effect on trade policy moving forward. and after a record setting week for bitcoin the world's largest crypto currency has finally dropped slightly following a decision by turkey's central bank to ban crypto currencies for payments the central bank of the republic of turkey said the use of crypto currency than other crypto assets based on distributed ledger technology would be prohibited as a payment whether directly or indirectly joining us now to discuss this and other crypto related news boom bust co-hosts and crypto analyst ben swan and kristie i always a pleasure to talk these things over with you guys kristie i want to start with you why did this announcement by turkey cause a pullback on the bitcoin price. i'm going to come up a little best i can