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Yellen tells Congress that raising the federal minimum wage to $15 would have ‘minimal’ impact on jobs

Former Federal Reserve Chair, Janet L. Yellen, President- elect Joe Biden pick to be Treasury Secretary

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Treasury Secretary nominee Janet Yellen said that a $15 minimum wage increase will not have significant effects on the job market, responding to concerns from Republican lawmakers.

In her confirmation hearing on Tuesday, Yellen addressed President-elect Joe Biden’s announcement to increase the federal minimum wage to $15 an hour in his stimulus plan. Although the plan was widely supported by Democrats and a majority of the public, conservatives said that raising the minimum wage would be detrimental to the economy and labor markets across the country. Sen. Tim Scott of South Carolina said during the hearing details ⇒

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