Yellen says she never asked for a small bailout due to inflation concerns

WASHINGTON — Treasury Secretary Janet Yellen has denied trying to cut the size of the $1.9 trillion bailout package approved by Democrats in early 2021, defending legislation that is now the subject of a debate on the causes of the current high inflation.

Ms Yellen’s statement on Saturday comes after Bloomberg News reported that an upcoming biography of Ms Yellen indicates that she had sought to reduce the amount of spending in the legislation. In the book, titled ‘Empathy Economics’, author Owen Ullmann writes that Ms Yellen feared a $1.9 trillion package could fuel inflation, preferring a $1.3 trillion bill instead, according to excerpts from a pre-publication version of the book viewed by The Wall Street Journal.

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