Janet Yellen: Relief Plan is the Right Size to Address Current Problems

“I think it’s the right size to address the very significant problem that we have,” said Treasury Secretary Janet Yellen in an interview with ABC News on Sunday.

“We’ve lost nine and a half million jobs. If we were properly measuring unemployment, it would register over nine percent. We need both relief for the people who are suffering because of what’s happened with the economy. We need to defeat the pandemic. This package really does that,” continued Yellen.

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“There will be fourteen hundred dollar checks going out to members of 85% of American households, three thousand dollar payments to children. Thirty six hundred dollars for children under six. Unemployment compensation that will extend through Labor Day money to address the eviction crisis, to address people who were behind on their mortgage payments. We have 22 million Americans who say they don’t have enough to eat. There’s additional money for food stamps. State and local governments have already laid off one point four million workers. And they’re going to get the money that they need to to keep those essential workers on the payrolls. And we need to open schools quickly and safely in this package. Has the money to do that. So I believe there’s enough support in this package to relieve suffering and to get the economy quickly back on track. I’m hopeful that if we defeat the pandemic, that we can have the economy back near full employment next year. And I think this is the package we need to do that.”

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