Treasury Secretary Janet Yellen says fears that the administration’s $1.9 trillion relief bill could trigger a rapid rise in inflation are misplacedWASHINGTON -- Treasury Secretary Janet Yellen says fears that the administration's $1.9 trillion relief bill could trigger a rapid rise in inflation are misplaced. Asked about concerns by some economists that the measure could rev up the economy too fast and trigger higher inflation, Yellen said, “I really don't think that is going to happen. Yellen said inflation was “too low” during that period of very low unemployment. The House is expected to give final passage to the relief bill this week and the administration has said the president will sign the measure as soon as it reaches his desk. Yellen said this proposal would address problems “that have been festering for a long time.”

Source: ABC News March 08, 2021 15:29 UTC