Treasury Secretary Janet Yellen said that US$1.9 trillion in pandemic-relief spending is still needed, despite recent strength in retail sales and record levels in U.S. stocks. “It’s very important to have a big package that addresses the pain this has caused,” Yellen said on CNBC Thursday. “The price of doing too little is much larger than the price of doing something big.” The Treasury chief, asked if the economy needs the US$1.9 trillion after much stronger than expected retail sales in January and record highs in equities, said, “I think it does.” Yellen pointed to more than 9 million … (full story)

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