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Yellen: stimulus success judged by returning to pre-pandemic unemployment level

Kitco News

WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen said on Monday that she will judge the success of President Joe Biden’s coronavirus stimulus plan by how quickly it returns the economy to pre-pandemic levels of unemployment.

Speaking to a New York Times Dealbook online event, Yellen also downplayed the increased debt levels that would be incurred from Biden’s $1.9 trillion American Recovery Plan being debated in Congress. She said that due to low interest rates, U.S. interest expenses as a share of GDP are at 2007 levels.

Reporting by David Lawder; Editing by Chizu Nomiyama

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