{"id":9433,"date":"2024-01-17T12:50:47","date_gmt":"2024-01-17T12:50:47","guid":{"rendered":"https:\/\/topat10.com\/?p=9433"},"modified":"2024-01-17T12:50:47","modified_gmt":"2024-01-17T12:50:47","slug":"treasury-secretary-yellen-pushes-back-against-republican-criticism-u-s-economic-growth-vindicates-bidens-pandemic-stimulus-spending","status":"publish","type":"post","link":"https:\/\/topat10.com\/?p=9433","title":{"rendered":"Treasury Secretary Yellen pushes back against Republican criticism\u2014U.S. economic growth \u2018vindicates\u2019 Biden\u2019s pandemic stimulus spending"},"content":{"rendered":"\n
\n

Treasury Secretary\u00a0Janet Yellen<\/a>\u00a0is pushing back against Republican criticism of the Democrats\u2019 big coronavirus pandemic response package and making an election year pitch that the current state of the U.S. \u201cvindicates\u201d the steps taken in 2021 to \u201cget our economy back on track.\u201d<\/p>\n

\n

With\u00a0falling inflation<\/a>,\u00a0unemployment at 3.7%<\/a>\u00a0and the U.S. apparently defying\u00a0predictions of a recession<\/a>, Yellen was set to defend the $1.9 trillion American Rescue Plan in remarks prepared for delivery Wednesday at a U.S. Conference of Mayors meeting in Washington, D.C.<\/p>\n

The stimulus package<\/a>, which was passed into law without a Republican vote, is regularly cited by Republicans as the cause for two years of accelerating price spikes that hurt millions of American households.<\/p>\n

\u201cMany had argued that this Rescue Plan wasn\u2019t needed. But I believe seeing where we are today vindicates the approach we took,\u201d Yellen said in the prepared remarks. \u201cPresident Biden and I believed that the most dangerous risk was in going too small.\u201d<\/p>\n

As President Joe Biden seeks reelection, he is trying to convince voters who are gloomy about the economy that inflation is under control and the economy is strong.<\/p>\n

Some 76% of U.S. adults polled by The Associated Press-NORC Center for Public Affairs Research in December said they want the government to work on\u00a0issues related to the economy<\/a>\u00a0this year, nearly the same as the 75% who said so at this point in 2022.<\/p>\n

About 85% of Republicans and 65% of Democrats named the economy as a top issue.<\/p>\n

An October AP-NORC poll stated that roughly three-quarters of Americans\u00a0described the nation\u2019s economy as poor<\/a>.<\/p>\n

At the mayors\u2019 conference, Yellen planned to say the Biden administration\u2019s COVID-19 spending benefited states and local governments \u2014 and that had the administration\u2019s response been smaller the U.S. economy could be worse off.<\/p>\n

\u201cWages are up and wage gains have been broadly shared, including by younger and less educated workers,\u201d Yellen said in her prepared remarks, adding that the U.S. had recovered \u201cfaster than our peers around the world.\u201d<\/p>\n

A top Federal Reserve official, Christopher Waller, said Tuesday that he is increasingly\u00a0confident inflation will continue falling<\/a>\u00a0this year back to the Fed\u2019s 2% target level.<\/p>\n

Waller said inflation was slowing even as growth and hiring remain solid, a combination that he called \u201calmost as good as it gets.\u201d<\/p>\n<\/div>\n

Get the business news that matters most to you with our customizable digest, Fortune Daily. Register<\/a> to get it delivered free to your inbox.<\/div>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"

Treasury Secretary\u00a0Janet Yellen\u00a0is pushing back against Republican criticism of the Democrats\u2019 big coronavirus pandemic response package and making an election year pitch that the current state of the U.S. \u201cvindicates\u201d the steps taken in 2021 to \u201cget our economy back on track.\u201d With\u00a0falling inflation,\u00a0unemployment at 3.7%\u00a0and the U.S. apparently defying\u00a0predictions of a recession, Yellen was […]<\/p>\n","protected":false},"author":54,"featured_media":9434,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[123],"tags":[],"class_list":["post-9433","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"\nTreasury Secretary Yellen pushes back against Republican criticism\u2014U.S. economic growth 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