Yellen: Biden pandemic relief law like 'vaccine' for economy
ABC News
Treasury Secretary Janet Yellen has told a gathering of America’s mayors the Biden administration’s coronavirus relief bill is “like a vaccine” preventing catastrophic economic damage
WASHINGTON -- Treasury Secretary Janet Yellen told a gathering of America’s mayors on Wednesday that the Biden administration’s coronavirus relief bill was like a vaccine preventing catastrophic economic damage that could have returned the nation to the financial woes seen at the beginning of the pandemic.
President Joe Biden's $1.9 trillion American Rescue Plan “acted like a vaccine for the American economy, protecting our recovery from the possibility of new variants," Yellen said at the U.S. Conference of Mayors’ 90th winter meeting in downtown Washington.
"The protection wasn’t complete, but it was very strong," Yellen said. “It prevented communities from suffering the most severe economic effects of omicron and delta.”
The mayors' conference, headed by Miami Mayor Francis X. Suarez, is focused on American Rescue Plan resources for cities, equitable pandemic recovery, the reduction of gun violence and homelessness and combating climate change, among other issues.
