The United States will return to full employment in 2022 if President Joe Biden’s relief package is passed, Treasury Secretary Janet Yellen predicted Sunday. “I would expect that, if this package is passed, that we would get back to full employment next year,” Yellen said. Full employment refers to an economy in which the unemployment rate equals the nonaccelerating inflation rate of employment. Democrats are attempting to ram Biden’s $1.9 trillion proposal though Congress, even though few, if any, Republicans support it in its current form. The package includes a federal minimum wage hike, a fresh round of stimulus checks, and extended unemployment benefits. Senate Budget Chairman Bernie Sanders (I-Vt.) argued that Congress must pass the new relief bill by the time bolstered unemployment benefits expire in the middle of next month. “2020 was probably the worst year in the modern history of this country. You have got millions of …
US to Return to Full Employment Next Year if Congress Passes $1.9 Trillion Relief Bill: Yellen
February 8, 2021
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