Janet Yellen: “First of all, it raises the real or inflation-adjusted cost of capital, and it also redistributes debt burdens.”

The treasury secretary, Janet Yellen, is my exclusive guest tonight.

The most recent and optimistic estimate I’ve seen suggested that the average household will see on the order of $1,000 reduction in income.

The Biden Administration has driven an historic economic recovery over the past three years.

I think it is appropriate to do that.