Treasury Nominee Yellen Decries 'tragedy' Of Economic Crisis

Sumaira FH Published December 02, 2020 | 12:20 AM

Wilmington, United States, Dec 1 (UrduPoint / Pakistan Point News - 1st Dec, 2020 ) :President-elect Joe Biden's pick to lead the US Treasury on Tuesday lamented the impact the Covid-19 economic crisis has had on families, calling it an "American tragedy" and pledging to work to provide help.

"So many people struggling to put food on the table and pay bills and rent. It's an American tragedy," Janet Yellen said at an event in Wilmington, Delaware where Biden presented his economic team.

The world's largest economy is facing a "historic" crisis that is hitting the most vulnerable people the hardest, she said, warning that "inaction will produce self reinforcing downturn causing yet more devastation."