Powell and Yellen Link Migration to Economic Woes
Powell and Yellen Link Migration to Economic Woes
Powell and Yellen Link Migration to Economic Woes
News summary

Treasury Secretary Janet Yellen warned that deporting illegal immigrants could worsen inflation, as these workers contribute significantly to the U.S. labor force, particularly in sectors like agriculture. Federal Reserve Chairman Jerome Powell has also highlighted the impact of mass migration on economic metrics, pointing out that the influx of migrants has helped raise the nation's unemployment rate by increasing the labor supply faster than job creation. Powell's remarks came after the Fed cut interest rates by 0.5 percentage points to counter rising unemployment and slow job growth. In Springfield, Ohio, the arrival of thousands of Haitian migrants has strained resources and driven up housing prices. The U.S. has seen a significant number of illegal border crossings since the Biden administration began, affecting both employment and inflation rates.

Story Coverage
Bias Distribution
86% Right
Information Sources
ed031cd7-0175-4f4d-899e-af45a46b2648339ba12a-e852-4faf-b561-fc853f9e03e88f76b506-b4ea-4d97-9e25-107ba95ef15b538ad27c-7e41-4215-a5e1-3c6c21cfd9ff
+2
Right 86%
Coverage Details
Total News Sources
7
Left
0
Center
0
Right
6
Unrated
1
Last Updated
20 min ago
Bias Distribution
86% Right
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