Janet Yellen, President-elect Joe Biden’s choice for Treasury secretary, urged lawmakers in her confirmation hearing to “act big” to avert a protracted economic downturn and put aside concerns about the mounting national debt.
Janet Yellen, President-elect Joe Biden’s choice for Treasury secretary, urged lawmakers in her confirmation hearing to “act big” to avert a protracted economic downturn and put aside concerns about the mounting national debt.
The president-elect’s goals upon taking office include moves he can make quickly by executive order and others that require cooperation from Congress, where his party holds slim majorities.
The World Economic Forum’s annual report concludes that the pandemic threatens to widen income and other disparities within and between societies, increasing the risks of a further fracturing inside some states and in international relations.
The Treasury secretary nominee, facing confirmation hearings this week, supports Biden administration plans that add trillions to U.S. borrowing, backed by a turnabout in economic thinking.
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