US Treas Sec Yellen says hoping to see progress on stimulus bill in the next 2 weeks

US Treasury Secretary Yellen speaking on a CNBC interview

  • if the unemployment rate is measured properly its close to 10%
  • important to have a big rescue package
  • benefits of a big package will far outweigh the costs in the long run
  • the Federal Reserve has the tools to deal with inflation
  • inflation is a risk but the bigger risk is having the pandemic take a permanent toll on people’s lives
  • details of Biden’s infrastructure plan not finailised
  • tax increase would likely be used to pay for part of Biden’s infrastructure package to be proposed later this year