In her first interview on CNN since her confirmation, Treasury Secretary Janet Yellen said the benefits of the Biden administration’s Covid-19 bill outweigh the risks, adding that if the bill succeeds, the U.S. will next years can come to full service again.
On a timeline asked by CNN’s Jake Tapper, Yellen said, “Well, I would expect that if we pass this package, we’ll start working again 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 it is something the government can run.
‘My predecessor, you know, indicated that there was a chance that it would raise inflation. And it is also a risk that we have to consider, ”she said. Yellen said she had been studying inflation for years and that the country had the tools to treat it as “realizing the risk.”
“The economic challenge and the tremendous suffering in the country, we have to address it, it is the biggest risk,” she added.
On the money she made to deliver speeches – some at the hedge funds that saved some Gamestop short-sellers – Yellen said she would abide by her own ethical agreement.
‘Well, I have an agreement I signed, which carefully considered whether there are interests with each other. I will religiously abide by the agreement, ‘she said, adding that she would consult and proceed with each stage with ethical advocates at the Treasury Department.
The Treasury Secretary will not immediately respond to a question from Tapper as to whether Biden is willing to sign a bill that has no dual support, but she has a case against lowering those eligible for direct payments made too low, saying both she and Biden believe middle class families deserve help.
‘But when you think of a primary school teacher or policeman who earns $ 60,000 a year and deals with children who did not go to school and people who may have had to withdraw from the labor force to care for them and many extra burdens, and I definitely agree that it is appropriate for people to get support there, ”she said. “The exact details of how it should be targeted must therefore be determined, but struggling middle-class families also need help.”
And on equal pay, Yellen said she hopes women after pay will get equal pay for equal work.
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