Yellen’s Appointment ‘Good News for World Economy’: ECB Vice-President

Frankfurt am Main, Nov 25 (AFP/APP): The prospect of former Federal Reserve boss Janet Yellen becoming the next US Treasury Secretary is “good news for the US and the world economy”, ECB vice president Luis de Guindos said Wednesday.

Yellen, who would be the first woman in the job, would face the daunting task of steering the world’s largest economy through the COVID19 crisis and is seen by experts as favourable to more government spending. The ECB itself has unleashed unprecedented stimulus to shore up the eurozone economy and regularly urges governments to support its efforts through more spending.

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