Yellen Urges Congress To Do More To Fight Pandemic

WASHINGTON (AP) – Treasury Secretary nominee Janet Yellen is calling on Congress to do more to fight a deep pandemic-induced recession. In testimony prepared for her Senate confirmation hearing on Tuesday, Yellen says the threats of a longer and even worse downturn are too great to cut back on support now. She says that without further action, the U.S. risks a longer, more painful recession now and long-term scarring of the economy later. Yellen would be the first woman to lead the Treasury Department. She was the nation’s first female chair of the Federal Reserve.