Posted 1/17/2024, 8:31:27 PM
Biden's Economic Wins Vindicate Big Spending, Says Treasury Chief Yellen
- Yellen defends Biden's COVID stimulus package, says current economy "vindicates" the large spending approach
- Inflation is falling, unemployment is low at 3.7%, and predictions of a recession were wrong - signs of a strong economy
- Yellen argues the spending benefited states, local governments, wages, and more - without it the economy could be worse
- Biden trying to convince gloomy voters that inflation is under control and economy is actually strong
- Fed official Waller also says inflation continuing to fall, growth and hiring remain solid - a positive economic mix