“Her prepared testimony is basically a pitch for the $1.9 trillion stimulus proposed by President-elect Biden last week,” said Christopher Low, chief economist at FHN Financial. “So she will be in the Senate chamber, pitching this new stimulus, which, of course, is partly COVID relief, but also a down payment on the incoming president’s vision for spending in his first term.” Low also said Yellen is on the side of expansive spending right now. “And the reasoning is that even though we have a fairly large deficit, interest rates are so low, it makes sense to spend money now,” Low said. “Which, interestingly enough, right, is a message that we’ve also heard from officials at the Fed.”
Apple
Spotify
Amazon
RSS