Janet Yellen: Biden’s Spending ‘Did Feed’ Inflation

Janet Yellen: Biden’s Spending ‘Did Feed’ Inflation
Treasury Secretary Janet Yellen speaks during a virtual roundtable in Washington on Feb. 5, 2021. Drew Angerer/Getty Images
Andrew Moran
Updated:
0:00

President Joe Biden’s $1.9 trillion American Rescue Plan did contribute to inflation, Treasury Secretary Janet Yellen conceded on May 4.

Speaking in an interview with Matt Murray, editor-in-chief of The Wall Street Journal, the former head of the Federal Reserve said the White House’s enormous spending did play a role in the current inflationary environment, noting that it was “justified” because of the various economic risks.
Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
Related Topics