A government shutdown that could start this weekend would 'undermine' U.S. economic progress by idling key programs for small businesses and children, and could delay major infrastructure improvements, U.S. Treasury Secretary Janet Yellen said Friday.
A government shutdown that could start this weekend would "undermine" U.S. economic progress by idling key programs for small businesses and children, and could delay major infrastructure improvements, U.S. Treasury Secretary Janet Yellen said Friday. Yellen said in remarks at the Port of Savannah in Georgia that it was crucial that Republicans in the House of Representatives take action to keep the government open and adhere to a budget deal agreed in late May.
"The failure of House Republicans to act responsibly would hurt American families and cause economic headwinds that could undermine the progress we’re making," Yellen said. Her comments echoed those of the White House's top economic adviser, Lael Brainard, who said on Friday that a government shutdown was an "unnecessary risk" to a resilient economy now with moderating inflation.
Brainard said U.S. Commerce Department data showing underlying annualized inflation excluding food and energy fell below 4% for the first time in more than two years in August was "absolutely good news" for the economy.
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US government shutdown would 'undermine' US economic progress, Yellen saysA government shutdown that could start this weekend would 'undermine' U.S. economic progress by idling key programs for small businesses and children, and could delay major infrastructure improvements, U.S. Treasury Secretary Janet Yellen said on Friday.
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