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Treasury Secretary says spending packages will change U.S. economy for the better -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: Janet Yellen (Treasury Secretary) attends the hearing at House Financial Services Committee, Washington, U.S.A. September 30, 2021. Al Drago/Pool via REUTERS

WASHINGTON, (Reuters) – U.S. Treasury secretary Janet Yellen stated on Thursday that President Joe Biden’s infrastructure and social spending plans would transform the U.S. economic landscape and lower inflation.

Biden presented a plan for climate and economic change worth $1.75 trillion on Thursday. He claimed it united Democrats, but was swiftly rejected by his party members.

Yellen declared that these proposals represent “something truly historic”: a new period for investment in economic growth across all Americans.

Last month saw an acceleration in U.S. inflation, and consumer prices increased 5.4%.

“This pandemic is the reason,” Yellen stated to CBS News during a separate interview on Thursday. She was being asked about inflation and higher consumer prices.

“And as long as we are successful in our vaccination campaign, and all other countries succeed and everything goes back to normal,” Yellen stated.

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