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11/5/2021, 7:35 PM (Source: TeleTrader)
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Yellen: Jobs report shows bold fiscal policy works

United States Treasury Secretary Janet Yellen said on Friday that the Labor Department's latest jobs report showed that the US economy is recovering in accordance with plans and that "bold fiscal policy works."

Reiterating US President Joe Biden's earlier remark, she tweeted that the country is "on pace to reach full employment 2 years faster than CBO [Congressional Budget Office] expected." Yellen went on to claim that "there was a real risk that our economy was going to slip into a prolonged recession" back in January when the Biden administration took over the White House, but that now the US tops other wealthy nations when it comes to pace of the economic recovery.

After the administration's American Rescue Plan passed in March "ensured" US recovery, its "Build Back Better package making its way through Congress will ensure America thrives in a post-pandemic world," she pointed out.

Baha Breaking News (BBN) / MS