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U.S. Treasury's Yellen tamps down inflation fears over Biden plan -interview

WASHINGTON, May 2 (Reuters) - U.S. Treasury Secretary Janet Yellen on Sunday tamped down concerns that President Joe Biden’s plans for infrastructure, jobs and families will cause inflation, saying the spending will be phased in over eight to 10 years.

Yellen told NBC’s “Meet the Press” that inflation will be monitored carefully over the years and there are tools to deal with that if it becomes an issue. Biden believes the spending increases should be paid for by raising taxes on the wealthiest Americans. (Reporting by Doina Chiacu; Editing by Lisa Shumaker)

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