Yellen warns against paring Biden’s $1.9T relief package

WASHINGTON (AP) — Treasury Secretary Janet Yellen says recent signs of improvement in the economy are no reason to scale back the administration’s $1.9 trillion relief plan. She says the economy remains in a “deep hole” with many people still hurting. Yellen noted in a CNBC interview Thursday the relief plan’s $1,400 stimulus checks and expanded unemployment benefits. But she also said the Biden administration is planning to unveil an infrastructure program later this year aimed at boosting growth. She said 2020 was the worst year for economic growth in the U.S. since World War II.