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Yellen Says Key to Economic Recovery Is in ‘Smart Policies’

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Yellen Says Key to Economic Recovery Is in ‘Smart Policies’

Treasury Secretary Janet L. Yellen testified to Congress on Wednesday about economic recovery in the wake of the coronavirus. Yellen promoted Biden’s policies on paid family leave and education as the best way to fix long-existing disparities.

When I took office back in January, the first and most urgent problem confronting our economy was obviously the pandemic, helping people make it to the other side of the crisis and ensuring they were met there by a robust recovery. Thanks to this Congress and its passage of the American Rescue Plan, I believe we’re well on our way towards that goal. But we have to be clear-eyed about something: The pandemic was not our only economic problem. The budget, which includes both the American Jobs and Families Plan, will repair the fractured foundations of our economy. It does so through a series of smart policies, including child care and paid leave so more parents can join the workforce, a mass modernization and greening of America’s infrastructure to spur commerce and reduce emissions, and investment to make housing and education available to all. And the list goes on. We need to make these investments at some point, and now is fiscally the most strategic time to make them.

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