Yellen tells lawmakers to 'act big' on coronavirus relief

Finance Materials 20 January 2021 04:29 (UTC +04:00)

Janet Yellen, U.S. President-elect Joe Biden’s nominee for Treasury Secretary, urged lawmakers to “act big” on the next coronavirus relief package, adding that the benefits outweigh the costs of a higher debt burden, Trend reports citing Reuters.

Yellen’s testimony before the Senate Banking Committee came one day before Biden is to be sworn into office, having last week outlined a $1.9 trillion stimulus package proposal. The plan calls for bold investment to jump-start the economy and accelerate the distribution of vaccines to bring the virus under control.