But the US treasury secretary dismissed fears that President Joe Biden’s pandemic-relief bill was big enough to cause an inflation problem
09 March 2021 – 11:13
The JSE was weaker on Tuesday morning, with global markets mixed as investors mull over rising US bond yields and inflation concerns.
On Monday, US treasury secretary Janet Yellen dismissed fears that President Joe Biden’s $1.9-trillion pandemic-relief bill was too big and that it would cause an inflation problem. Yellen believes that Biden’s Covid-19 aid package will provide enough resources to fuel a “very strong” US economic recovery, and has noted that “there are tools” to deal with inflation. ..