Connect with us

Hi, what are you looking for?

Hard News Hard Hitting News Source Global Political News

Business News

Yellen Says ‘Tough Months’ Ahead, More Relief Needed

Treasury Secretary Janet Yellen listens during a meeting with President Joe Biden in the Oval Office of the White House, Friday, Jan. 29, 2021, in Washington. (AP Photo/Evan Vucci)

WASHINGTON (AP) — Treasury Secretary Janet Yellen says there are “tough months ahead” for the country with COVID-19 continuing to flare, making it critical that Congress pass President Joe Biden’s $1.9 trillion relief package.

In her first public interview since becoming Treasury secretary last week, Yellen said that Biden is willing to cooperate with Republicans to pass the measure on a bipartisan basis.

Democrats in Congress have signaled that if GOP support is not forthcoming, they are prepared to pass the measure with only Democratic support.

“We’ve got some tough months ahead” until we get control of the pandemic, Yellen said Thursday on ABC’s “Good Morning America.”

Asked how it feels to be the first woman to serve as Treasury secretary, Yellen, who also became the first woman to lead the Federal Reserve, said that the legacy she seeks is passage of a coronavirus relief measure.

America faces “an economic crisis that is as serious as I have seen in my lifetime,” Yellen said. The goal, she said, is to ensure that “Americans don’t suffer needlessly.”

Asked about the recent stock market trading turmoil that pitted smaller, online investors against massive hedge funds, Yellen said she is meeting later Thursday with federal regulators from the Securities and Exchange Commission, the Federal Reserve and the Commodity Futures Trading Commission.

The meeting will be focused on what happened and whether any regulatory action is warranted.

“We need to understand what happened,” she said, before regulators decide on whether to implement any changes.

Copyright 2020 Associated Press. All rights reserved.

Source: https://apnews.com/article/joe-biden-politics-coronavirus-pandemic-financial-markets-janet-yellen-0e3cd1e48a1d5e7e4fbc42d39b5cbb7c

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Business News

Canada will try to put USA Basketball in a position that the national team hasn’t experienced in 56 years on Sunday. There’s been only...

Business News

NEW YORK (AP) — Stocks are opening higher on Wall Street as markets shift their attention from the Federal Reserve to more corporate earnings...

Business News

Wall Street was mixed in premarket trading early Thursday after chipmaker Nvidia reported blowout earnings, pushing Nasdaq futures higher. Futures for the S&P 500...

Business News

Wall Street inched higher Wednesday ahead of Federal Reserve Chair Jerome Powell’s highly anticipated speech later in the week. Futures for the Dow and...

Copyright © 2023 Hard News Herd Hitting in Your Face News Source | World News | Breaking News | US News | Political News Website by Top Search SEO