Treasury Secretary Yellen Pushes For More Stimulus

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Federal Reserve Chair Janet Yellen testifies before a House Financial Services Committee hearing on "Monetary Policy and the State of the Economy." at the Rayburn House Office Building in Washington, February 11, 2014. Yellen, fresh from taking the helm of the Federal Reserve, made it clear on Tuesday she would not make any abrupt changes to U.S. monetary policy, saying the central bank was on track to keep reducing its stimulus even though the labor market recovery was far from complete. REUTERS/Mary F. Calvert (UNITED STATES - Tags: BUSINESS POLITICS) - RTX18N0I

CNBC: Yellen told CNBC Thursday after the bell that more stimulus is necessary even as some economic data suggested a swift rebound. She added a $1.9 trillion stimulus deal could help the U.S. get back to full employment in a year.

“We think it’s very important to have a big package [that] addresses the pain this has caused – 15 million Americans behind on their rent, 24 million adults and 12 million children who don’t have enough to eat, small businesses failing,” Yellen told CNBC’s Sara Eisen during a “Closing Bell” interview.

“I think the price of doing too little is much higher than the price of doing something big. We think that the benefits will far outweigh the costs in the longer run,” she added. Read More

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