With interest rates at historic lows, benefits will far outweigh the costs, Biden’s pick for top Treasury job will tell Senate
by Greg Robb
Market Watch
In testimony prepared for delivery to the Senate Finance Committee on Tuesday, Yellen said that she and the president-elect have an appreciation for the country’s debt burden.
“But right now, with interest rates at historic lows, the smartest thing we can do is act big,” Yellen said. “I believe the benefits will far outweigh the costs, especially if we care about helping people who have been struggling for a very long time.”
Her advance remarks were obtained by MarketWatch. Yellen is no stranger to Washington, having been the first woman to lead the Federal Reserve. If confirmed by the Senate, she would be the first female Treasury secretary.