Yellen Asked Point Blank About Inflation: 'What Do You Say' To Americans Trying To Make Ends Meet?

6 months ago

Treasury Secretary Janet Yellen was asked about what she would say to Americans who are yet to feel the benefits of Biden's economic policies.

Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:

https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript

Stay Connected
Forbes on Facebook: http://fb.com/forbes
Forbes Video on Twitter: http://www.twitter.com/forbes
Forbes Video on Instagram: http://instagram.com/forbes
More From Forbes: http://forbes.com

Transcript

00:00Secretary Yellen, first, thank you for being here.

00:02I have a question more about the economy domestically.

00:06Overall, inflation has gone down,

00:08but the average American is still

00:09struggling with everyday goods.

00:11I know here I've reported frequently

00:13on how the average person is supplementing their household

00:17food groceries with visits to the food bank.

00:19What do you say to those people who

00:22are not seeing the benefits of Biden's economic policy

00:24and every day are still trying to make ends meet?

00:27Well, I think the problems with Americans

00:32feeling that there are necessities of life that

00:36are just becoming unaffordable really date back some way.

00:41But the price increases that occurred during the pandemic

00:45made matters worse.

00:48And President Biden understands the struggles

00:50that American households face.

00:54Their affordable housing is extremely

00:58hard to find, limited in supply.

01:02President Biden has taken a number

01:05of steps to address that.

01:08We consider it a critical priority

01:10to increase the supply of affordable housing.

01:14Health care, President Biden's worked hard

01:18to make sure for seniors to limit co-pays on insulin

01:24to $35 and to limit overall co-pays that seniors face

01:31who are part of Medicare.

01:33And working to lower on a permanent basis,

01:39keep low the premiums for the Affordable Care Act.

01:44Child care is becoming unaffordable for so many

01:47Americans.

01:48President Biden has proposed ways to address that as well.

01:54President Biden wants to cut taxes for hardworking families.

01:59During the pandemic, we had in place a child tax credit

02:05so that a family with two children under the age of 16

02:12were receiving typically $600 on a monthly basis

02:16to help with expenses.

02:18And we saw the biggest reduction in the poverty rate

02:21by almost 50% as a consequence.

02:26So President Biden has made affordability his top priority.

02:32He's obviously taken steps in education

02:35for giving student loans and other things

02:40and trying to make sure that working families can afford

02:47a decent standard of living really is a top priority.

02:52All right.

02:52Thank you, everybody.

Yellen Asked Point Blank About Inflation: 'What Do You Say' To Americans Trying To Make Ends Meet?

Category

Transcript

Recommended