Yellen To Brief Biden On Relief Deal “Cost Of Inaction”

The Washington Post reports:

White House press secretary Jen Psaki said Friday that a briefing Biden is receiving later from Treasury Secretary Janet Yellen would highlight “the cost of inaction” on the president’s coronavirus relief legislation — a move designed to increase pressure on Congress to move forward.

The briefing, Psaki said, would demonstrate “the impact of a delay in moving forward with a relief package for millions of Americans who don’t have enough food to eat and millions more have lost their jobs.”

“Interest rates are at historic lows, and that means it’s the right time to make smart investments,” Psaki said. She also cited a projection by Wall Street firm Moody’s that failure to help states deal with the economic fallout of the pandemic could cost 4 million jobs this year.

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