Incoming Treasury secretary’s speech boosts markets with call on Republicans to back Joe Biden’s $1.9tn stimulus plan

Janet Yellen, the economist picked by Joe Biden to run the US Treasury, has said America needs to “act big” to revive its flagging economy and protect itself against long-term scarring with a major stimulus package.

The former chairman of the US central bank, the Federal Reserve, underlined the new administration’s determination to press ahead with plans to boost government spending when she told a Senate committee that the benefits of action by Washington outweighed the costs.

Continue reading…

Leave a Reply

Your email address will not be published. Required fields are marked *