Yellen Is 'old medicine in a new bottle'

    Yellen began to practice the fiscal deficit monetization (MMT) policy as soon as she took office. In fact, the world's major economies are now facing the dilemma of declining economic regulation and control. All policies will eventually succumb to reality, and Biden can't play the trick better than Trump.

    Yellen explained that Biden's $1.9 trillion stimulus plan is not only designed to create jobs, but also to stimulate labor demand. She urged the congress to pass Biden's stimulus plan ASAP. If the U.S. implements a sufficiently strong bailout plan, the economy will return to full employment in 2022. Otherwise, the recovery of employment and economic may slow down significantly, and the labor market may getting recovery till 2025.

    Yellen admitted that some people have warned of inflation risks in Biden's plan. "It's a risk we take into consider. I've spent years studying inflation," Yellen, the former Fed chair, said confidently. "I can tell you we have the tools to deal with this risk.”

    The question is, does Yellen have any other options besides the bailout policy?