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Yellen says raising minimum wage to $15 would have ‘minimal’ impact on jobs, but nonpartisan Congressional Budget Office disagrees MarketWatch 1/24/2021 © brendan smialowski/Agence France-Presse/Getty Images Raising the minimum wage to $15 an hour from $7.25 would help the U.S. economy more than it would harm it, Janet Yellen, President Joe Biden’s Treasury Secretary nominee, told lawmakers this week.  “Right now we have millions of American workers who are putting their lives on the line to keep their communities functioning, and sometimes even working multiple jobs, aren’t earning enough to put food on the table and a roof over their heads,” Yellen, a former Federal Reserve chair, told the Senate Finance Committee at her confirmation hearing.

South carolinaUnited statesNew yorkNew jerseyTim scottJanet yellenHeidi shierholzYuci chenBarack obamaSenate finance committeeEconomic policy instituteUs census bureauFederal reserveDepartment of laborSenate majority leader mitch mcconnellCongressional budget office