Treasury Secretary Janet Yellen Wants a Big Package of Stimulus
Posted on 02/18/2021
As the COVID pandemic cripples economies, U.S. Treasury Secretary Janet Yellen told CNBC’s Closing Bell show on February 18, 2020, that a “big package” of stimulus is necessary to help the economy stage a full recovery. The US$ 1.9 trillion proposal aims to get U.S. employment, back up to full employment.
“We think it’s very important to have a big package [that] addresses the pain this has caused – 15 million Americans behind on their rent, 24 million adults and 12 million children who don’t have enough to eat, small businesses failing,” Janet Yellen told Sara Eisen on “Closing Bell.”
Campaigning earlier on US$ 2,000 checks, U.S. President Joe Biden revised and wants to send US$ 1,400 checks to millions of Americans.
Many government officials see that U.S. inflation has been low for over a decade. The Congressional Budget Office projects a $2.3 trillion budget deficit in fiscal 2021.