Yellen made the remark after US President-elect Joe Biden introduced his economic team at the Transition headquarters in Wilmington, Delaware.
The United States is facing economic crises again and it is essential to move with urgency, Treasury Secretary-nominee Janet Yellen said Tuesday, warning that inaction will produce a self-reinforcing downturn causing yet more devastation.
Yellen made the remark after US President-elect Joe Biden introduced his economic team at the Transition headquarters in Wilmington, Delaware.
I’ve spent my career trying to make sure people can work and achieve the dignity and self-worth that comes with it. Mr. President-elect, I know you’ve done the same. I saw that understanding during the last Great Recession and the Recovery Act that followed, Yellen said.
And now we are facing historic crises again, she said, adding the coronavirus pandemic and its economic fallout have caused much damage to American people and had a disproportionate impact on…