Yellen Warns Extending Trump Tax Cuts May Roil US Markets
- Outgoing Treasury chief also defends the 2021 Covid stimulus
- Yellen says current budget policy already is unsustainable
Janet Yellen
Photographer: Tierney L. Cross/BloombergThis article is for subscribers only.
Outgoing Treasury Secretary Janet Yellen warned that plans by the incoming administration to extend the 2017 Republican tax cuts risk roiling financial markets and worsening an already challenging US fiscal outlook.
“The projected fiscal path under current budgetary policies is simply not sustainable, and the consequences of inaction, or action that exacerbates projected deficits, could be dire,” Yellen said Wednesday in what’s likely to be her final speech in office.