Speaking to the IMF, Powell said vaccinations and rapid rehiring signal the U.S. will fully reopen soon
The 2017 tax cuts failed to deliver an accelerating economy, the Treasury secretary said
The American president's plan includes hiking the corporate rate to 28% from 21%
Consumers' spending and personal incomes both fell sharply
The Fed chairman recently reflected on the central bank's pandemic response in an NPR interview
Higher taxes are likely required in the long run, the Treasury secretary said
Continued support from the Fed will be required
The requirements were relaxed as part of the Fed's efforts to shore up the financial system
The U.S. central bank also upgraded its growth and inflation forecasts
Credit and debit card spending fell sharply after the storm in Texas