Daily Sabah logo

Politics
Diplomacy Legislation War On Terror EU Affairs Elections News Analysis
TÜRKİYE
Istanbul Education Investigations Minorities Expat Corner Diaspora
World
Mid-East Europe Americas Asia Pacific Africa Syrian Crisis Islamophobia
Business
Automotive Economy Energy Finance Tourism Tech Defense Transportation News Analysis
Lifestyle
Health Environment Travel Food Fashion Science Religion History Feature Expat Corner
Arts
Cinema Music Events Portrait Reviews Performing Arts
Sports
Football Basketball Motorsports Tennis
Opinion
Columns Op-Ed Reader's Corner Editorial
PHOTO GALLERY
JOBS ABOUT US RSS PRIVACY CONTACT US
© Turkuvaz Haberleşme ve Yayıncılık 2023

Daily Sabah logo

عربي
  • Politics
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • Elections
    • News Analysis
  • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Expat Corner
    • Diaspora
  • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • Islamophobia
  • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
  • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
  • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Reviews
    • Performing Arts
  • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
  • Gallery
  • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
  • TV
  • Business
  • Automotive
  • Economy
  • Energy
  • Finance
  • Tourism
  • Tech
  • Defense
  • Transportation
  • News Analysis

Biden's spending plan does not pose inflation risk, Yellen says

by Reuters

WASHINGTON May 02, 2021 - 5:27 pm GMT+3
The U.S. Treasury Secretary-designate Janet Yellen in Wilmington, Delaware, U.S., Dec. 1, 2020. (Reuters Photo)
The U.S. Treasury Secretary-designate Janet Yellen in Wilmington, Delaware, U.S., Dec. 1, 2020. (Reuters Photo)
by Reuters May 02, 2021 5:27 pm

The U.S. President Joe Biden's plans for infrastructure, jobs and families will not be a concern for inflation, U.S. Treasury Secretary Janet Yellen said Sunday, adding that the spending will be phased in over a decade.

"It's spread out quite evenly over eight to 10 years," Yellen, former Federal Reserve chair, said in an interview with NBC's "Meet the Press."

She said the Federal Reserve will monitor inflation carefully and has the tools to address it if necessary.

"I don't believe that inflation will be an issue but if it becomes an issue, we have tools to address it. These are historic investments that we need to make our economy productive and fair."

Biden's plans are paid for by a series of tax increases on the wealthiest Americans, less than 1% of the population, and on raising corporate taxes.

Some Democrats have expressed concerns that the tax increases would slow economic growth.

Yellen would not speculate on whether Biden would accept a bill from Congress that does not include a way to pay for the spending increases in his plans.

"He has made clear that he believes that permanent increase in spending should be paid for and I agree," she said.

  • shortlink copied
  • RELATED TOPICS
    fight-against-terrorism DEUTSCHE-BANK US-LIBYA-RELATIONS
    KEYWORDS
    us economy janet yellen joe biden
    The Daily Sabah Newsletter
    Keep up to date with what’s happening in Turkey, it’s region and the world.
    You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
    An amateur photographer Vincent Cornelissen captures a bean goose flying upside down. (Photo from Instagram @b0unce1971)

    It is showing off: Photographer captures goose flying upside down

    ANIMALS-ARCHIVES
    A crude oil tanker sails in the Bosporus, on its way to the Mediterranean Sea, in Istanbul, Türkiye, Dec. 11, 2022. (Reuters Photo)

    Türkiye registers better-than-expected current account gap

    current-account-balance

    Accumulated tension of hundreds of years moved Anatolia by 3m

    Harold-Tobin

    Istanbul's consulate chronicles: Sudhi Choudhary, Consul General of India

    SUDHI-CHOUDHARY
    No Image
    First look into Istanbul's Greek orphanage after decades
    PHOTOGALLERY
    • POLITICS
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • News Analysis
    • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Diaspora
    • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • İslamophobia
    • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
    • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
    • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Performing Arts
    • Reviews
    • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
    • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
    • Photo gallery
    • Jobs
    • privacy
    • about us
    • contact us
    • RSS
    © Turkuvaz Haberleşme ve Yayıncılık 2021