Treasury Secretary and Federal Reserve Chair Testimony on COVID-19 Economic Recovery
Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell testified on the economy during the pandemic and how the CARES Act a… read more
Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell testified on the economy during the pandemic and how the CARES Act and American Recovery Plan Act have aided the economic recovery. Secretary Yellen told the Senate Banking Committee she was “hopeful” for the economy and expected a return to full employment in 2022. Secretary Yellen also addressed the federal debt-to-gross domestic product (GDP) ratio, saying “we have more fiscal space, but it certainly doesn’t mean that anything goes. I believe in responding to a crisis with a needed surge of spending that’s temporary.” In his opening remarks Committee Chair Sherrod Brown (D-OH) commented that his hearing was the first time a woman had appeared before the committee as the head of U.S. economic policy. close
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