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Yellen says new Biden investments can counter inflation

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AFP

New York (AFP) – US Treasury Secretary Janet Yellen urged lawmakers to approve additional investments in renewable energy and higher taxes on the wealthy on Tuesday, as she defended the administration’s efforts to blunt the impact of inflation. “I believe there’s lot that Congress can do to ease the cost burdens that households are experiencing,” Yellen told the Senate Finance Committee in the first of two days of testimony on President Joe Biden’s budget for the 2023 fiscal year. Besides renewable energy investments — which Yellen said could help address high gasoline prices — the Treasury …

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