US Treasury secretary Janet Yellen has urged Congress to pass new measures to help ease ongoing price surges, as pressure mounts on the Biden administration to do more to contain the highest inflation in four decades.
Lawmakers on the Senate Finance Committee grilled Yellen on Tuesday about the state of the economy, which has rebounded rapidly from the depths of the Covid-19-induced crash but is now beset by soaring costs for almost all goods and services.
“Congress can do a lot to mitigate some of the most important and burdensome costs that households face,” Yellen said, noting specific proposals to reduce prescription drug prices, improve access to affordable housing and bolster investments in renewable energy.
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