In her first interview on CNN since her confirmation, Treasury Secretary Janet Yellen said the benefits of the Biden government’s Covid-19 relief bill would outweigh the risks – adding that if the bill passes, the United States can return to full employment next year.
Asked by CNN’s Jake Tapper about a timeline, Yellen said, “Well, I would hope that if this package were approved, we would return to full employment next year.”
Yellen also responded to criticism from Larry Summers, a former Obama official, that this bill could create more inflation in the country, saying that this is something the government can manage.
“My predecessor, you know, indicated that there is a chance that this will cause inflation to rise. And this is also a risk that we must consider, ”she said. Yellen said he spent many years studying inflation and that the country has the tools to deal with it if “that risk materializes”.
“The economic challenge and the enormous suffering of the country, we have to deal with it, this is the biggest risk”, he added.
About the money he made from speeches – some of the hedge funds that rescued some sellers of Gamestop shares – Yellen said he would respect his own ethics agreement.
“Well, I have an agreement that I signed, that I carefully considered whether or not there could be a conflict of interest. I will join the religious in this agreement, ”she said, adding that she consulted and will continue to consult with Treasury Department ethics lawyers every step of the way.
The Treasury secretary did not respond openly to a question from Tapper about whether Biden is prepared to sign a bill that lacks bipartisan support, but she argued against reducing who qualifies for very low direct payments, saying that both she how much Biden believes in class families deserve help.
“But if you think of an elementary school teacher or police officer who earns $ 60,000 a year and comes across children who are out of school and people who may have been taken out of the workforce to take care of them and a lot of extra charges, he thinks , and I certainly agree, that it is appropriate for people there to get support, ”she said. “Therefore, the exact details of how it should be targeted must be determined, but struggling middle-class families also need help.”
And with equal pay, Yellen said he expects that, after finishing, women will be paid equally for equal work.
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