Treasury Secretary Janet Yellen says Congress still needs to “go big” by passing President Joe Biden’s 1.9 trillion dollar (£1.37 trillion) relief package to get millions of people back to work soon despite the strong job gains last month. In an interview with the PBS NewsHour on Friday, Ms Yellen said Mr Biden’s package should not be trimmed just because the February jobs report showed 379,000 new jobs had been created, the best showing since October. It is a big package but I think we need to go big now, and we can afford to go big Janet YellenBut with the administration’s package, she said the country could record a return to full employment by next year. “It is a big package but I think we need to go big now, and we can afford to go big,” Mr Yellen said. She said the rise in rates is a sign that prospects for the economy are starting to improve as more people are vaccinated and Mr Biden’s fiscal package makes its way through Congress.

Source: Irish Independent March 06, 2021 03:11 UTC