Stocks were rising on Monday in intraday trading and the three major indexes set intraday record highs after Treasury Secretary Janet Yellen endorsed a massive stimulus package that she said should include checks to Americans making up to around $60,000.
And Yellen noted that full employment could return by 2022 if the proposed plan--worth $1.9 trillion--was passed.
When asked about fears of inflation rising, Yellen said "we have the tools to deal with" such a threat.
There has been back and forth between Democrats and Republicans about the size of the package.
“Some in Congress think we’ve already done enough to deal with the crisis in the country. Others think that things are getting better and we can afford to sit back and either do little or nothing at all,” President Joe Biden told reporters on Friday. “That’s not what I see. I see enormous pain.”
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