Yellen makes a case for bold stimulus spending on Capitol Hill

Janet Yellen, President-elect Joe Biden's pick for Treasury secretary, struck a bipartisan tone at her confirmation hearing Tuesday, urging Congress to move swiftly on bold stimulus spending while acknowledging the implications for America's debt burden.

Yellen, who would be the first female Treasury secretary in American history, underscored the urgency of Biden's proposed $1.9 trillion stimulus proposal. With interest rates at historic lows, she said, "the smartest thing we can do is act big." While the priority must be to get the economy back on track, she said, leaders are responsible for putting the federal budget on a sustainable path and "make sure that what we do in respect to deficit and debt will leave future generations better off."