Yellen Praises Biden for Economic Recovery and Leadership

U.S. Treasury Secretary Janet Yellen commended President Joe Biden for a 'remarkable economic recovery' and highlighted the steady growth and declining inflation in the U.S. economy. Yellen also praised Biden's global leadership. She attributed the creation of 15.7 million jobs to their administration's economic plan.

U.S. Treasury Secretary Janet Yellen on Thursday lauded President Joe Biden for a 'remarkable economic recovery' and said that second-quarter GDP and inflation data confirmed that the U.S. is on a path 'to steady growth and declining inflation.'

In her first public remarks on the topic since Biden ended his re-election campaign and endorsed Vice President Kamala Harris as his successor, Yellen said Biden had restored America's standing in the world.

'I am deeply proud to serve the American people with him and Vice President Harris and I look forward to continuing to advance U.S. leadership around the globe and deliver results for American families and businesses at home,' Yellen said.

She said the strong U.S. growth, which has created 15.7 million jobs since Biden and Harris took office, was not an accident, but the result of their administration's economic plan, and was helping to keep the global economy resilient.

(With inputs from agencies.)