Yellen Praises Biden Economy While Acknowledging More Work Needed on Inflation, Affordability
• Yellen touted Biden's economic record, drawing contrasts with Trump's policies which she criticized as enriching corporations and increasing deficits.
• Yellen acknowledged inflation remains too high despite moderating, and more action is needed to lower costs for middle-class Americans.
• The U.S. economy grew at a healthy 3.3% pace in Q4 2023, defying expectations of a recession.
• Yellen argued the Biden administration needs more time to address affordability issues like child care and housing access.
• While Americans still give Biden poor economic marks, latest indicators show greater consumer optimism.