Economy

Yellen says U.S. could return to full employment next year if relief passes

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Outgoing Federal Reserve Chair Janet Yellen holds a news conference after a two-day Federal Open Market Committee (FOMC) meeting in Washington, U.S. December 13, 2017.

Jonathan Ernst | Reuters

The U.S. could return to full employment in 2022 if President Joe Biden‘s $1.9 trillion coronavirus rescue package is passed, Treasury Secretary Janet Yellen said on Sunday.

“There’s absolutely no reason why we should suffer through a long slow recovery,” Yellen said during an interview on CNN’s “State of the Union.” “I would expect that if this package is passed that we would get back to full employment next year.”

Long-term unemployment is nearing a historical peak nearly a year since the pandemic…



Source cnbc.com

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