InstaForex

September 29, 2021

Janet Yellen's Statement Causes Market Players to Divide!

 U.S. Treasury Secretary Janet Yellen, in a recent speech told senators that the United States should return to a full workforce next year despite the contagion of the Delta Covid-19 variant. At the same time Yellen urged congress to immediately raise the federal debt limit.


In a statement prepared for the Senate Banking Committee meeting, Yellen said the recovery from the COVID-19 pandemic recession is still fragile but remains growing.


According to Janet Yallen, while the U.S. economy continues to grow and has managed to create most of the lost jobs by 2020, it should be noted that the contagion of the Delta variant continues to hamper economic recovery and be an obstacle to reaching a full workforce.



However Yellen stressed that he remains optimistic about economic growth in the medium term and that the U.S. will record a full workforce next year.


Yellen, who testified about the COVID-19 relief effort, said that the Rental Assistance program was enhanced to prevent evictions where $ 1.4 million payments were made to tenants and landlords.


Yellen also reiterated that failure to raise the federal debt limit would damage the full credibility and credit of the United States. Not only that the U.S. is likely to face a financial crisis and economic recession.


He said he hoped the debt limit could be raised soon by the two party groups.