Markets Wired

Today, Deputy Secretary of the Treasury Wally Adeyemo met virtually with 20 CEOs who are members of the Bank Policy Institute (BPI) for a roundtable discussion focused on the importance of forging strong partnerships between the public and private sectors to tackle challenges facing Americans. BPI is a nonpartisan public policy, research, and advocacy group that represents the nation’s leading banks which collectively employ nearly two million Americans.

Deputy Secretary Adeyemo discussed the American Jobs Plan, which will create millions of good-paying jobs, rebuild infrastructure, and position the U.S. to outcompete China, and stressed that now is the moment to reimagine and rebuild a new American economy. He highlighted how the American Jobs Plan will restore American competitiveness by giving American businesses and workers the tools they need to succeed in the 21st century economy, from restoring the highways companies use to ship their goods to universal broadband that lets every American participate in the modern economy. The Deputy Secretary also discussed President Biden’s Made in America Tax Plan, and how the proposal rewards work, not wealth. The Deputy Secretary noted how the Tax Plan can pay for critical investments in the American Jobs Plan and create a tax code that helps end profit shifting and tax games.

Deputy Secretary Adeyemo also focused on the Treasury Department’s review of U.S. economic and financial sanctions, which is underway. He explained how the Treasury-led review will identify successes and opportunities for change or improvements and outline steps for effective implementation. He noted that the sanctions review will seek to ensure that the Department’s implementation and enforcement of sanctions are relevant, rigorous, and fit to purpose, with the goal of advancing the national security, foreign policy and economic aims of the United States.

Deputy Secretary Adeyemo and the CEOs also discussed economic inclusion and ways to improve access to credit for low- and moderate-income communities, particularly with regard to mortgage finance as a pathway to building wealth.

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