U.S. Treasury’s Yellen calls for better automatic stabilizers to fight recessions -Breaking
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© Reuters. FILE PHOTO – Janet Yellen (U.S. Secretary Of the Treasury) listens as she participates in a panel discussion about women entrepreneurs at Mi Casa Resource Center Denver, Colorado. March 11, 2022. Jason Connolly/Pool via REUTERS/File PhotographWASHINGTON, (Reuters) – U.S. Treasury secretary Janet Yellen called Thursday for a reform of U.S. unemployment insurance. This would include more efficient automatic stabilizers to speed up assistance to those who are unable or unwilling to work during recessions.
Yellen made remarks at the Brookings Institution, Washington. She stated that workers with lost income need cash assistance quickly. However, more research is necessary to identify when and how this cash should be sent.
“It has been a constant theme in recessions over the past decade that there is a need to have an automatic, flexible response. In prepared remarks, Yellen stated that well-designed stabilizers are best.
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