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This week, U.S. Treasury Secretary Janet Yellen will visit the states of Pennsylvania and Michigan, which are considered battlegrounds in elections. She plans to highlight what she describes as “the most robust economic recovery in our lifetimes.”
The Treasury announced that Yellen will attend events with elected officials and community leaders in Pittsburgh on February 13th and Detroit on February 14th. The focus of these events will be on the Biden administration’s goals of reducing healthcare expenses, aiding small businesses, and increasing economic opportunities.
Yellen’s recent trips to Illinois and Wisconsin in January, as well as other states like Nevada and North Carolina last year, have influenced her current trips. However, despite the administration’s attempts at marketing, recent polls show that they have not been successful in persuading the American public.
According to a recent poll by Reuters/Ipsos, President Joe Biden is currently six points behind former President Donald Trump, who is leading among Republican candidates. The main concerns among voters are immigration issues, Biden’s age, and overall dissatisfaction with the economy, despite significant progress since he assumed office in 2021.
Yellen has advised for patience previously, stating that the impact of the COVID pandemic has left lasting worries, but also expressing optimism about the rise in consumer confidence.
“Over the past three years, the Biden administration has driven the strongest economic comeback of our lifetimes,” Yellen said in a speech to be given at the Greater Pittsburgh Chamber of Commerce on Tuesday. She will also meet with Democratic Senator Bob Casey, a strong supporter of Biden.
She will celebrate the strong economic growth in the U.S., a faster and more rapid decrease in inflation compared to other developed countries, and the ongoing resilience of the labor market.
According to her, with unemployment at less than 4% and household median wealth increasing by 37% between 2019 and 2022 (the biggest three-year rise ever), Americans now have greater purchasing power.
In Detroit, a city that has experienced a slower economic recovery compared to others, Yellen will participate in a joint event with Governor Gretchen Whitmer, hold meetings with Senator Debbie Stabenow and local business leaders, and deliver a speech highlighting the importance of small businesses.
The University of Michigan economists report that while Detroit has experienced economic growth, other Midwestern cities have a larger number of workers earning a sustainable income.
Source: voanews.com