Yellen Defends Biden's Economic Policies

In her final address, outgoing Treasury Secretary Janet Yellen defended the Biden administration's pandemic response, asserting that the $1.9 trillion American Rescue Plan significantly boosted the U.S. economy and averted widespread job losses. She highlighted that stimulus measures, including direct payments and enhanced unemployment benefits, helped maintain consumer spending and fostered rapid economic recovery, allowing the U.S. to outperform other advanced economies. While acknowledging that the fiscal policies may have contributed somewhat to inflation, Yellen emphasized their critical role in closing income gaps and preventing long-term unemployment. She urged for ongoing infrastructure investments and green energy initiatives to sustain this economic momentum. Yellen concluded by stressing that the administration's focus on employment provided a solid foundation for recovery, countering critics who claimed the stimulus measures fueled inflation. Overall, she portrayed the economic outcomes as a testament to sound policy decisions made during her tenure.