Janet Yellen who was President Joe Biden's choice for the post of Treasury secretary is currently speaking at Capitol Hill.
Yellen, will be the first woman to hold this position and she is expected to ask lawmakers to sign more pandemic stimulus packages.
Based on initial testimonials received by CNN, Yellen says that in the face of low interest rates, the wisest course of action to take is to announce a larger stimulus package.
Joe Biden last week proposed one of the largest aid packages in history - worth $ 1.9 trillion - in efforts to address the economic and health crisis.
Legislators have approved trillions of dollars worth of aid funds under President Donald Trump to address the crisis caused by the Covid-19 pandemic. Yet many are still losing their jobs and millions of people are still unemployed. Thus, analysts, think the first thing after Biden legitimately becomes President is to increase the number of stimulus packages.
Analysts expect Yellen to choose a weaker US dollar to generate an economy in the trading sector. US stocks continued to record gains in anticipation of a full report.
