Yellen says key to economic recovery lies in ‘smart policies’

When I took office back in January, the first and most pressing problem facing our economy was the pandemic, helping people transition to the other side of the crisis and making sure they are faced there with a strong recovery. Thanks to this Congress and its endorsement of the US bailout, I believe we are well on our way to that goal. But we have to be clear about something: the pandemic has not been our only economic problem. The budget, which includes both the American Jobs and Families Plan, will repair the fractured foundations of our economy. It does so through a series of smart policies, including childcare and paid leave so more parents can join the workforce, comprehensive modernization and greening of America’s infrastructure to stimulate trade and reduce emissions, and investment to make housing and education accessible to all. And the list goes on. We need to make these investments at some point, and now is the most financially strategic time to make them.