Reported about 9 hours ago
U.S. Treasury Secretary Janet Yellen defended the Biden administration's COVID relief measures, asserting that stimulus spending prevented millions from losing their jobs and contributed to economic recovery. In her final address before leaving office, she highlighted that the American Rescue Plan and earlier COVID spending helped maintain consumer spending during the pandemic, outperforming other advanced economies and mitigating long-term unemployment. Yellen acknowledged a minor inflation contribution from the stimulus but emphasized that without these measures, the unemployment rate could have soared significantly.
Source: YAHOO