WASHINGTON (AP) — Treasury Secretary Janet Yellen says fears that the administration’s $1.9 trillion relief bill could trigger a rapid rise in inflation are misplaced.
In an interview on MSNBC on Monday, Yellen said the measure, which will provide $1,400 checks to millions of American along with other assistance, will provide needed relief and help the economy return to full employment by next year.
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. We had a 3.5% unemployment rate before the pandemic and there was no sign of inflation increasing.”
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