Yellen Says Corporate Tax Rate an Issue for Congress

The transcript discusses the impact of the corporate tax system on U.S. investment, highlighting concerns about its structure. It also addresses the regulatory burdens imposed by Dodd-Frank on small banks, suggesting that these may hinder economic recovery. The Federal Reserve's efforts to reduce these burdens through tailored supervision and proposed changes are outlined. Additionally, the importance of maintaining enhanced prudential standards for larger banks is emphasized, particularly in terms of stress testing and financial stability.

What is the main concern regarding the current corporate tax system in the U.S.?

• It encourages foreign investment.

• It has no impact on U.S. companies.

• It makes America less attractive for investment.

• It simplifies tax compliance for companies.

What is a major criticism of the Dodd-Frank Act according to the transcript?

• It simplifies the banking system.

• It has no impact on bank regulations.

• It increases the regulatory burden on small banks.

• It reduces the regulatory burden on large banks.

What legislative initiative is mentioned in relation to the Dodd-Frank Act?

• Raising the regulatory threshold from $500 billion to $250 billion.

• Lowering the regulatory threshold from $500 billion to $250 billion.

• Eliminating the regulatory threshold entirely.

• Increasing the regulatory threshold to $1 trillion.

What is the Federal Reserve's approach to reducing regulatory burdens on community banks?

• Simplifying capital proposals.

• Increasing reporting requirements.

• Applying the Volcker Rule to all banks.

• Eliminating all regulations.

Why does the Federal Reserve consider stress testing important?

• To reduce bank competition.

• To ensure safety and soundness.

• To increase bank profits.

• To eliminate small banks.