US Treasury Secretary Janet Yellen has reassured Americans that President Joe Biden’s plans to develop infrastructure and support employment and households will trigger inflation, Reuters reported.
Yellen said the costs would be made in stages over a period of eight to ten years.
The former head of the Federal Reserve (UFR) said in an interview with NBC that the central bank will closely monitor inflation and have the necessary tools to adjust it if necessary.
“These are historic investments that we need to make our economy productive and fair,” said Janet Yellen.
Biden’s plan to stimulate and recover from the pandemic economy totals about $ 6 trillion and will be funded in part by a series of tax increases for the richest Americans, who make up less than 1 percent of the population, and by raising corporate taxes.
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