Business
ASX to rise, Wall St lifts on Yellen’s stimulus push – The Australian Financial Review
Australian shares are set to edge higher amid broad gains in New York on Janet Yellen’s endorsement of more stimulus. $A steady.
Many Republicans raised the soaring budget deficits as a reason to be cautious in passing further relief. Last year, the budget deficit climbed to a record $US3.1 trillion.
Dr Yellen said that she and Biden were aware of the country’s rising debt burden but felt fighting the pandemic-recession was more important currently.
Right now, with interest rates at historic lows, the smartest thing we can do is act big, she said. In the long run, I believe the benefits will far outweigh the costs, especially…
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