U.S. Treasury secretary Janet Yellen doesn't think inflationary pressures stem from the stimulus policies enacted after the Covid-19 outbreak. Economics Inflation
Yellen Downplays Stimulus Contributing to Inflation, Republicans Grill US Treasury Secretary's Decisions
Yellen Claims Stimulus ‘Produced Excellent Rewards for Americans’ — Republican Senator Says American Rescue Plan ‘Overheated the Economy’ Speaking about the American Rescue Plan stimulus bill, Yellen said: “I hate to think about what the situation — especially for low-income families — would be without the help provided by that plan.”
John Thune, a Republican senator from South Dakota, believes the trillions spent toward the stimulus plans created the inflation issues America is facing. “I think that there’s no question that the $2 trillion bill last year overheated the economy, and it’s why we have the mess that we have today,” Thune explained during the House Ways and Means Committee. The Republican senator from Illinois, Darin LaHood, said he was confused by the Biden administration’s lack of remedies.
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