First Woman US Treasury Secretary: For the first time in America, a woman is going to become Finance Minister. Janet, 74, has been the head of the central bank Federal Reserve. Yellen has a deep understanding of economic matters. Yellen is the first woman to head the finance ministry in its 231-year history.
Janet Yellen, former chairman of the American Central Bank, is going to be the first chief minister of the US. The American Parliament has cleared the way for economist Janet Yellen to become America’s first female finance minister. The Senate had 84 votes in support of Janet Yellen and 15 in opposition. The Yellen Research Institute is currently at Brookings Institute. She was the head of the Federal Reserve from 2014 to 2018. Prior to this, she was chairman of the White House Economic Advisory Council from 1997 to 1999.
Know who Janet Yellen is
For the first time in America, a woman is going to become Finance Minister. Janet, 74, has been the head of the central bank Federal Reserve. Yellen has a deep understanding of economic matters. Experts believe that she can play a decisive role in shaping and giving Biden’s economic policies.
What will be the effect on american economy
Experts say that Janet Yellen has a deep understanding of economic matters. Those who can play a decisive role in shaping and giving Biden’s economic policies.
What will you do first?
Experts say that after becoming finance minister, Janet Yellen’s first task was to prepare a relief package of US $ 1.9 trillion.
This package has to be passed in both houses of Congress, that is, the US Parliament. After the package is implemented, every American will get $ 1,400 (about one lakh rupees) in his account. Apart from this, small businesses have been given relief in Biden’s package. This package is named American Rescue Plan. More Read: Also Read: India will be the only major country in the world with double-digit GDP growth this year: IMF
The way the funds have been distributed in the relief package, it is clear that it has been decided to give relief to business, education and every American.
Under the package, $ 415 billion will be spent on the war against Corona. At the same time, $ 1,400 will be transferred to the account of every American. 440 billion dollars will be spent on the improvement of small scale business.
Apart from this, employees will be given a minimum salary at the rate of $ 15 per hour. Earlier it used to be around seven dollars. However, this problem can occur in this package because when Trump announced the relief package, the Democratic Party raised many questions. The Republican Party still has a majority in the Senate and they can stand on it.
What will be the effect on India and the world due to the arrival of relief package
Experts say that with the coming of the relief package, the economic growth of economies around the world, including America, will be supported. In such a situation, the demand for crude oil is expected to increase. That is why the prices of crude oil are increasing. In such a situation, the prices of petrol and diesel in India can increase further. So inflation will increase tension of common man
Asif Iqbal, head of research at Escort Security, says that the biggest benefit of the relief package will be to the country’s stock market and economy. Because foreign investors will have more money, they will invest in developing countries like India. So the stock market can touch new heights.
Asif says that America is the engine of growth of the world. If economic reforms are coming there, then India will get a big benefit. Because economies around the world are interlinked. If there is growth in America, then Indian IT companies will get new orders. Therefore, companies will provide new jobs.
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