US Treasury Secretary Janet Yellen said Tuesday that the United States decided to go big with COVID-19 relief measures given concerns about long-term economic scars, Reuters reported.
Key statements
“Stronger growth in the US will positively impact the entire global landscape.”
“Expecting a fairly quick recovery, return to full employment next year.”
“It is the responsibility of advanced economies to ensure that progress towards ending poverty in poor countries is not reversed.”
“The United States understands that it must help developing countries achieve their climate goals alongside their development goals.”
“There is no more important economic policy today than ensuring that all people receive COVID-19 vaccines.”
“One of the lessons of the COVID-19 crisis is that we must be better prepared, this may not be the last health crisis.”
“The United States has seen that its safety net was not enough to protect the most vulnerable.”
“The COVID crisis also revealed weaknesses in global supply chains, must work to shore up resilience.”
“We have more work to do to shore up the resilience of the financial system.”
“Some parts of the non-bank financial sector showed stress during the pandemic.”
Market reaction
These comments do not appear to have a significant impact on market sentiment. At time of writing, the S&P 500 Index was unchanged on the day at 4,078
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