Yellen to tout U.S. economy's resilience, jobs recovery in major speech
By Andrea Shalal
WASHINGTON (Reuters) — U.S. Treasury Secretary Janet Yellen will highlight the U.S. economy's continuing resilience in a major speech in Las Vegas on Monday, touting the creation of 13 million new jobs and progress in driving down inflation, a Treasury official said.
Yellen will speak at a training center operated by the International Brotherhood of Electrical Workers (IBEW) union after touring its cutting-edge clean energy training programs where workers learn how to install solar panels.
The remarks in Nevada, likely to be a key battleground state in the 2024 presidential election, are part of a monthlong travel blitz by President Joe Biden and his cabinet as they work to convince skeptical Americans that their policies are working to boost economic growth and fight global warming.
The U.S. economy has outrun recession warnings with record-low unemployment, strong wage gains and better-than-expected GDP growth, but many voters who backed Biden in 2020 think the economy has faired poorly, and may not vote for him in the 2024 election, a Reuters/Ipsos poll released last week showed.
Yellen's speech comes two days before the one-year anniversary of the Inflation Reduction Act (IRA), one of three major laws passed since Biden took office that Yellen says are transforming the U.S. economy, rebuilding its manufacturing base and making it fairer for workers and businesses.
The Treasury official said Yellen will say the U.S. economy is on the right track toward stable growth, while underscoring the need to remain vigilant on potential challenges.
She will note that the resilience of the U.S. economy — which she hailed in a major speech last July — has lasted over the past year despite many naysayers, who
Read more on investing.com
