May see 'return to full employment' next year -Yellen

Yellen, along with Federal Reserve Chair Jerome Powell, gave virtual testimony on the Coronavirus Aid, Relief, and Economic Security (CARES) Act before the House Financial Services Committee on Tuesday (March 23).

The top two U.S. economic officials appeared to assess a recovery that is evolving faster than expected, but still facing risks from the coronavirus pandemic on one side and potential inflation on the other as massive fiscal support rolls through the system.

Yellen repeated an optimistic view that the U.S. response, including the Biden administration's $1.9 trillion relief package that was passed this month, could get the country back to full employment by next year.