WASHINGTON: US treasury secretary Janet Yellen says a rapid US economic recovery will boost overall global growth, but more work is needed to shore up weaknesses the global Covid-19 crisis exposed in the non-bank financial sector, supply chains and social safety nets.
Yellen told leaders of the International Monetary Fund (IMF) and the World Bank that the Biden Administration had decided to “go big” with its Covid-19 response to avert the negative “scarring” impact of long-lasting unemployment, adding that she hoped the US economy would return to full employment next year.