U.S. Treasury Secretary Janet Yellen tells CNBC in an exclusive interview that only major stimulus will rouse the American economy following “the worst year for economic growth since WW2.” Yellen also said President Biden’s administration will maintain his predecessor’s trade pressure on China. The GameStop saga comes to Washington with Robinhood CEO Vlad Tenev going up against the House Financial Services Committee. Tenev defended the app’s decision to halt trading of the stock last month. However, he apologised for his company’s role in the market volatility during the retail trading frenzy. Meanwhile, carmakers continue to lament the effects of a chip shortage. We hear from Peter Schiefer, the auto sector chief at German chip-maker Infineon, who tells CNBC he believes the global semi-conductor squeeze is unlikely to be eased any time soon.
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