Yellen: Relief Bill to Fuel Strong Growth

The United States Secretary of the Treasury, Janet Yellen, said on Monday that the $1.9 trillion relief bill will strongly help economic recovery from the impact of the Coronavirus pandemic, Reuters reported.

“This is a bill that will really provide Americans the relief they need to get to the other side of the pandemic, and we expect the resources here to really fuel a very strong economic recovery.”

Yellen expects the American economy will restore full employment by 2022.

The Treasury Secretary dismissed worries about a surge in inflation, but pointed that the economy is facing many risks, noting that the rising Treasury bond yields are a sign of anticipating recovery.

“If it turns out to be inflationary, there are tools to deal with that, and we’ll monitor that closely.”

She also remarked that the pandemic has increased inequalities, saying, “I think it’s absolutely tragic, the impact that this crisis has had on women, especially low-skilled women and minorities.”