Yellen: ‘I Strongly Doubt’ Relief Will Stoke Inflation Pressure

Treasury Secretary Janet Yellen reiterated her view that the $1.9t pandemic-relief bill signed last month won’t stoke inflationary pressures, and suggested that low interest rates will continue to prevail in coming years.

• Yellen speaks Mon. in response to questions following speech to Chicago Council on Global Affairs
• “Will it be inflationary? I strongly doubt that it’s going to cause inflationary pressures. We’re in a deep hole where the U.S. economy is still down around 9 million jobs”
• “We do have fiscal space to be able to afford it,” she said of the Covid-19 spending bill. “In part because we’ve been ...