Janet Yellen says Biden must 'act big' with coronavirus relief package

The treasury secretary nominee says that despite debt implications, benefits of big spending outweigh the risks

Janet Yellen, US president-elect Joe Biden's nominee for treasury secretary, told lawmakers on Tuesday that the smartest thing we can do is act big" on the next coronavirus relief package, adding that the benefits outweigh the costs of a higher debt burden.

In testimony at her virtual confirmation hearing, Yellen said her task as treasury chief would be twofold: first to help Americans endure the final months of the coronavirus pandemic, and second to rebuild the US economy so that it creates more prosperity for more people and ensures that American workers can compete in an increasingly competitive global economy".