Markets Wired

Earlier today, Secretary Janet L. Yellen met virtually with CEOs and CFOs of the biggest retail companies in the U.S. who are members of the Retail Industry Leaders Association (RILA), the trade association for U.S.-based leading retail companies. The Secretary discussed the positive impact of the Administration’s American Rescue Plan and the merits of the American Jobs and American Families Plans. The Secretary highlighted the ways in which the Administration is working to build back better, including addressing the U.S.’s long history of underinvestment in our public goods like airports, roads, bridges, broadband, R&D, job training, and the challenges faced by families including soaring costs of childcare and health care; insufficient paid leave; lack of affordable education. Secretary Yellen also discussed how addressing these underinvestments and challenges will benefit the retail sector. 
 
The Secretary and retail executives also discussed climate finance, corporate tax rates, trade, supply chains including the labor supply, how the pandemic has affected the retail sector and how the industry has responded.
 
The Secretary relayed that she is increasingly optimistic that the retail sector will witness a strong rebound over 2021, and affirmed her commitment to helping Americans and businesses make it to the other side of the pandemic and be met there by a robust recovery. 

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