Janet Yellen, who was appointed as the next U.S. Treasury Secretary, sought support on the 19th, saying that the $ 1.9 trillion (about 197 trillion yen) economic measures set by President-elect Biden are essential support measures, but the Republican Party There was a voice of repulsion immediately from. Mr Yellen attended an approval hearing at the Senate Finance Committee.
At a hearing, he argued that spending to rebuild the economy hit by the new coronavirus “would be uneconomical to spare.” He stressed that interest payments now account for a lower proportion of the economy than they did before the 2008 financial crisis, as US Treasury yields were at historically low levels.
Yellen said support for the unemployed and small businesses would have a “maximum effect,” and called on lawmakers to take “bold action” in efforts to bail out the economy in Corona.
Republicans are already reluctant to Mr. Biden’s big stimulus package because of its size and content. The stimulus measures launched last week include the Democratic Party’s long-held increase in the minimum wage to $ 15 an hour and the expansion of the leave system due to illness and family circumstances.
“It’s not time to implement a series of liberal economic structural reforms,” Senate Finance Committee Chairman Chuck Glasley (Kyowa) said at the beginning of the hearing, which was worth $ 900 billion last December. He said the economic measures had just been approved.
Original title:Yellen Sees Republican Resistance to ‘Act Big’ Call for Stimulus(Excerpt)
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