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Janet Yellen denies trying to reduce spending in Biden's American Rescue Plan
Janet Yellen became a ‘political hack’: Rep. Kustoff
Rep. David Kustoff, R-Tenn., says Treasury Secretary Yellen was forced to ‘advocate’ for Biden’s policies knowing they’d created inflationary pressures.
U.S. Treasury Secretary Janet Yellen refuted reports that she sought to reduce the amount of spending in President Biden's COVID-19 spending package, despite a book claiming she thought "too much government money was flowing into the economy."
Yellen responded Saturday to excerpts of a biography that stated she wanted a smaller package than the nearly $2 trillion American Rescue Plan (ARP), which Biden signed into law in March 2021, pushing the government's total pandemic relief to nearly $6 trillion.
"I never urged adoption of a smaller American Rescue Plan package, and I believe that ARP played a central role in driving strong growth throughout 2021 and afterwards, with the United States real GDP growth outpacing other advanced economies and our labor market recovering faster relative to historical experience," Yellen said in a statement Saturday.