US President Biden Is Preparing For New A Package

US President Biden is preparing for a new package. The new package was said to be worth $ 3 trillion.

US President Joe Biden, who recently signed a $ 1.9 trillion coronavirus support package, is in preparation for a new economic support package. According to information obtained from three people speaking to Bloomberg, this package will be a long-term support package of up to $ 3 trillion. Speaking to Bloomberg, one of the sources said that the package, which includes infrastructure investments and tax increases, will be announced by Biden this week. Stating that the package includes a green investment of 400 billion dollars against climate change, these sources stated that the plan also includes support for education and health.

Eyes Turned to the Presentation of Janet Yellen

As soon as the news that Biden was preparing for a new package in the USA came out, eyes turned to the presentation to be made by the US Treasury Secretary Janet Yellen. FED Chairman Jerome Powell and US Treasury Secretary Janet Yellen will deliver a presentation to the US House of Representatives Financial Services Committee on the Coronavirus Aid, Support and Economic Security Act (CARES) package. In particular, it was stated that Republican MPs are expected to squeeze Powell and Yellen about the possible effects of the new package on inflation, which was announced with the previous package of 1.9 trillion dollars, which they did not support. Yellen's speech, published before the presentation, contained the following statements: "Even if we see signs of recovery, we must be aware about the hole we are trying to get out of. Our country has still lost 10 million jobs compared to the times before the pandemic." Following this presentation, Powell and Yellen will present to the US Senate Banking Committee on Wednesday.       Source: Bloomberg