WASHINGTON (Pakistan Point News / Sputnik - 28th January, 2021) US President Joseph Biden will conduct a meeting with his economic advisers on January 29 to discuss a stimulus package, White House spokesperson Jan Psaki told reporters on Wednesday.
"The President will be meeting with economic team on Friday, including [Treasury] Secretary [Janet] Yellen," Psaki said.
Biden plans to discuss the impact of the delay and moving forward with additional economic relief, she added.
Yellen said earlier that she was working toward addressing a K-shaped recovery of the US economy expected to take place after the coronavirus pandemic.
A K-shaped recovery occurs when, following a recession, different parts of the economy recover at different rates, times or magnitudes. This is in contrast to an even, uniform recovery across sectors, industries or groups of people.
The US economy shrank 5 percent in the first quarter of last year and 31.4 percent in the subsequent three months, as businesses shut down during the height of the pandemic and struggled to stay open later. Third quarter GDP rebounded 33.1 percent, with fourth-quarter data not published yet.
