Yellen Tells Skeptical CNBC Host that America Needs $1.9 Trillion Stimulus: 'We're Digging Out...
Yellen Tells Skeptical CNBC Host that America Needs $1.9 Trillion Stimulus: Were Digging Out of a Deep Hole
By Rudy TakalaFeb 19th, 2021, 11:09 am
Treasury Secretary Janet Yellen assured skeptical CNBC host Sara Eisen in an interview that generous stimulus measures were necessary to repair the American economy.
One question, I think, thats still out there, is whether we need $1.9 trillion of stimulus, Eisen said, noting that sectors of the economy including manufacturing and housing had returned to pre-pandemic levels, and that retail sales had improved by 5.3 percent in January more than four times greater than the 1.2 percent that had been expected.
Is that an economy that screams $2 trillion needed in stimulus? Eisen asked.
Well, I think it does, Yellen replied. We have an unemployment rate that, if properly measured in some sense, is really close to 10 percent.
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