U.S. economy recovered from pandemic thanks to Biden's policies: Yellen Says

Photo Source: By United States Federal Reserve

Janet Yellen, the U.S. Treasury secretary, said in an interview that President Biden's economic policies have helped the American economy recover from the pandemic and become stronger.

As Yellen boasted, "Our plan has worked," suggesting that "the economic recovery has been the fastest in modern history by any traditional measure."

A combination of the pandemic's effects, rising prices, and a drop in participation in the labor force, as well as the conflict in Ukraine, has resulted in a slowing of the U.S. economy.

Yellen inspected the Rouge Electric Vehicle Center in Dearborn, which manufactures Ford Motor Company's electric version of the classic F-150 Lightning pickup truck, while on a tour of a Ford Motor Company electric vehicle plant in Detroit.

Yellen admitted that more needed to be done to tackle inflation, which she said was the Biden administration’s “top economic priority.”

Biden and Democrats are facing uncertainty in the polls this year regarding the economy, as Americans have become increasingly upset with rising prices and higher borrowing rates.

As the Democrats fight to keep control of Congress, the White House has made a point of highlighting its recent success on economic legislation.

12 Sep 2022