Yellen says "transformative" $1.75 trillion framework will help return Americans to workforce and drive inflation down

Washington — Treasury Secretary Janet Yellen predicted Thursday that President Biden's $1.75 trillion social spending and climate change package will help drive prices lower and get Americans back to work as the United States continues its rebound from the COVID-19 pandemic.

In an exclusive interview with CBS News chief White House correspondent Nancy Cordes in Rome, Yellen said the U.S. has been in a "very difficult period" because of the 18-month-long pandemic, which has led to changes in spending patterns for Americans and a shrinking labor force, due to child care issues and health concerns.

U.S. inflation accelerated in September, with consumer prices rising 5.4%.