Reducing the tax on gasoline is among the options being considered for consumer relief, said US Treasury Secretary Janet Gellen, while expressing her optimism that the US economy will perform well this year.
“We are looking at a number of actions we could take to alleviate consumers. “The petrol tax is something we have on the list,” Glenn told reporters in Denver, Colorado.
However, she did not hide her concern that the reduction in the tax on gasoline could benefit oil companies more than consumers.
He also said that a tougher monetary policy to fight inflation could lead to a recession, but added that the Fed could find the balance needed to achieve maximum employment and stabilize prices.
“I’m confident the Fed will be able to bring inflation under control without causing a recession. “And I see a good and strong economy which, despite the inflation and the problems caused by the situation with Russia-Ukraine, I believe will do well this year,” he said.
Referring to the sanctions against Moscow and the impact they may have on the US dollar, due to the search for alternatives to business from Russia and China, Janet Gellen expressed confidence that the US currency is so strong in the international market that no one else can compete with it.
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