Yellen: Biden’s Plan Success Depends on Employment

The success of the American rescue plan, proposed by the United States President Joe Biden, will be evaluated based on how quickly it helps the economy return to unemployment levels as sees prior to the Coronavirus pandemic, the U.S. Treasury Secretary Janet Yellen said on Monday.

Once again, Yellen said that a rise in debt levels due to the increased stimulus spending does not pose a risk, as the historically low-interest rates could lead to the share of debt service of the gross domestic product (GDP) reaching their levels in 2007.

Biden recently laid out a new government stimulus plan worth $1.9 trillion to help the economy face the impact of the Coronavirus pandemic, under the title “The American Rescue Plan.”