Yellen vs. Inflation: Reclaiming the Economic Narrative

U.S. Treasury Secretary Janet Yellen is highlighting the Biden administration's economic achievements, noting improved metrics like low unemployment and reduced inflation. Despite these gains, many voters focus on rising living costs, favoring Trump's economic policies. Yellen emphasizes improvement from early 2021 and predicts continued economic growth.

U.S. Treasury Secretary Janet Yellen took a decisive step on Tuesday towards reshaping the conversation around the Biden administration's economic achievements. Speaking at a banking conference, Yellen underscored the country's robust economic health, marked by low unemployment, decreasing inflation, and increasing wages.

Despite these gains, a significant portion of voters in key battleground states remain focused on the rising cost of living, with some leaning towards Republican Donald Trump's policies. A recent Reuters/Ipsos poll indicates that 61% believe the economy is worsening, and 68% view the cost of living as a growing concern.

Yellen addressed these concerns head-on, reminding the audience of the economic challenges in early 2021. She highlighted the positive economic data expected, including third-quarter GDP growth. Yellen remained optimistic, citing that Americans are starting new businesses at record rates, reflecting confidence in the economic future.

(With inputs from agencies.)