A reason to be optimistic, in a Joe Biden presidency, which, thankfully, is starting its course in an unexpectedly boldly progressive manner.
Treasury Secretary Janet Yellen said Sunday the US could see full employment next year if Congress passes President Joe Biden’s proposed stimulus package, but warned the country’s unemployment rate would remain elevated over the next few years without the additional $1.9 trillion in federal support.
I would expect that if this package is passed that we would get back to full employment next year. … The Congressional Budget Office issued an analysis recently and it showed that if we don’t provide additional support, the unemployment rate is going to stay elevated for years to come. It would take (until) 2025 in order to get the unemployment rate down to 4% again.