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Acting President Joe Biden, who will be sworn in on Wednesday, proposed a $ 1.9 trillion aid package last week, with measures to accelerate economic recovery and the launch of the covid-19 vaccine.
“Neither the incoming president nor I are proposing this aid package without realizing the country’s debt burden. But right now, when interest rates are historically low, the smartest thing we can do is act big.” Janet Yellen said in a prepared speech.
“I think the benefits will significantly outweigh the costs, especially if we care about helping people who have had problems for a long time,” he continued.
According to the prepared speech, Janet Yellen will also say that the American economy must rebuild, “so that it can create more prosperity for more people and to ensure that American workers can compete in an increasingly competitive global economy.”
Reuters also reports that Democratic Senator Ron Wyden, who is expected to assume the chairmanship of the Finance Committee shortly after Joe Biden took office as chairman, said in a statement that “no one is better qualified than Yellen’s nominees for lead an economic recovery.
