US Treasury Sec. Yellen: Recent stimulus is not funded with tax increases

US Treasury Secretary Janet Yellen is delivering her remarks on the Treasury's response to the coronavirus crisis before the US House Committee on Financial Services.

Key quotes

"Committed to proper oversight of relief spending measures."

"Changes to tax policy will help pay for programs on infrastructure."

"We do need to raise revenues in a fair way to fuel programs to help the economy."

"Recent stimulus is not funded with tax increases."

"Longer-term plan for investments would require some revenue raises."

"Our best expectation is modest upward pressure on prices this year."

Market reaction

These comments don't seem to be having a significant impact on market sentiment. As of writing, the S&P 500 Index was unchanged on the day at 3,940.