Yellen said the U.S.' current debt level is a result of spending and tax decisions made "by Administrations and Congresses of both parties over time."
Bitcoin fell below $30,000 for the first time since Jun. 22. The drop also affected the rest of the cyptocurrency market.
"We are very concerned about the Delta variant and other variants that could emerge and threaten recovery," she told reporters following a G20 meeting in Italy.
Treasury Secretary Janet Yellen said the Biden administration took the recent inflation very seriously and assured the Treasury Department was investigating how information about the taxes of America's billionaires was obtained by ProPublica.
The GOP senator is concerned about the $1.9 trillion relief plan's effects on the U.S. economy.
"I think this is what we need. I'm hopeful that, next year, with a package of this size, we can be back at full employment," the treasury secretary said during an interview on Friday.
The checks themselves have become contentious among congressional lawmakers, with some Republicans calling the direct payments too costly.
President Joe Biden met with union bosses in the Oval Office on Wednesday where he discussed details of both the COVID-relief bill and a second possible spending package.
"Our currency tells the story of our nation, and it is long past due for Ms. Tubman's part of that story to be told," a bipartisan duo of U.S. Senators wrote in a letter to Treasury Secretary Janet Yellen.
Yellen says the income threshold should be set higher than $50,000, but perhaps lower than $75,000 per individual.
The Treasury Secretary said not passing a relief bill poses a bigger risk than the chance of rising inflation.
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Janet Yellen, President Joe Biden's nominee for U.S. Treasury Secretary, softened her comments of Bitcoin and other crypto-currencies, but said additional regulations are needed.
Bitcoin fell as much as 17% Thursday, but regained its footing in early trading Friday. CoinDesk calculated that the plunge erased about $100 billion in market value.
Yellen said she believes in a tax code "where wealthy individuals and corporations pay their fair share."
A letter they signed reflects bipartisan support as the Senate Finance Committee commences her confirmation hearing Tuesday.
Citigroup, Goldman Sachs, Citadel and others paid Yellen for speeches and have business before the department that Biden nominated her to run. Antony Blinken also has ties to companies which lobby the State Department.
Accusations of misogyny over debate of Yellen's reported Wall Street speaking fees are just a primer for mainstream media to soon "go easy" on the incoming Biden administration, right-leaning critics claimed.
Eleven of Biden's Cabinet appointments served in the Obama administration and three also served in the Clinton administration.
To honor the historic nomination of a woman as Secretary of Treasury, Biden says that the "Hamilton" creator should write a musical about Yellen.
Janet Yellen's first battle; Big Business gets some spine; and Rolling Stones touring keyboardist Chuck Leavell's hope for environmental salvation.
Senator John Barrasso said that Trump "was blockaded" by Democrats "every step along the way to get his people and this Cabinet nominated."
The former Fed Chair has a mixed record on fiscal policy, having called for debt-reduction measures that are closer to austerity but also touting the need for "extraordinary fiscal support" in the pandemic.
President-elect Joe Biden has picked former Federal Reserve chair Janet Yellen to serve as the next U.S. Treasury Secretary.
The former Federal Reserve chair called for Americans to receive "extraordinary" support amid the COVID-19 pandemic.
Lael Brainard, Elizabeth Warren and Janet Yellen are tipped to be Biden's Treasury Secretary. Here's what they've said about a second stimulus deal.
The former chair of the Federal Reserve made the suggestion during a conference call with House Democrats on how the coronavirus pandemic is hurting the economy.
The Massachusetts senator and Democratic 2020 presidential candidate is pledging to overhaul the U.S. economy with a number of reforms.
"The global economy has weakened. I think partly it's because of conflicts over trade and the uncertainty that's caused for businesses," Yellen said.