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12/1/2020, 7:34 PM (Source: TeleTrader)
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Yellen: We are facing historic crisis

Incoming Treasury Secretary Janet Yellen said on Tuesday the United States is currently facing a series of "historic" crises as the country grapples with the economic fallout from the coronavirus pandemic.

After she was formally nominated by President-elect Joe Biden to lead the Treasury Department in his administration, Yelln pledged to work towards "rebuilding the American dream"

"It's an American tragedy. It's essential that we move with urgency. Inaction will produce a self-reinforcing downturn causing yet more devastation," Yellen said, urging Congress to pass additional stimulus.

Breaking the News / JC