Washington, D.C. In the run-up to the midterm elections, Treasury Secretary Janet Yellen is advocating Biden administration policies as being essential to advance the country’s “long-term economic well-being.”
The former head of the Federal Reserve is touring a research and development business park in Virginia with Democratic Sen.
On Friday, Tim Kaine praised Obama administration initiatives to revive the nation’s manufacturing sector, boost the manufacture of computer chips, and modernise its infrastructure. Rep. Gerry Connolly, D-Virginia, will also be present.
Yellen’s visit is part of the Treasury leader’s ongoing tour of the U. S. , as she and other administration officials try to quell the impact of persistent high inflation.
Price rises are a major concern, according to voters.
Inflation was particularly mentioned by 40% of American people as one of up to five government priorities to address in the coming year in an open-ended question in a June Associated Press-NORC Center for Public Affairs Research poll.
Democrats must persuade Americans that they can control inflation, which picked up speed in September, if they are to keep control of Congress. Yellen will discuss how increasing local industrial production is one of the options in Virginia.
In prepared remarks, Yellen stated that “our government’s reluctance to invest in innovation has had wide-ranging repercussions on our long-term economic well-being.” “At the most basic level, it affected our ability to produce.”
She claimed that the Joe Biden administration “had begun to reverse that tendency” over the previous year.
We have developed an economic strategy that, for the first time, prioritises innovation and technology in our national agenda, the official said.
Yellen intended to participate in a roundtable discussion with local business owners and academics from Virginia institutions who are interested in semiconductors, sophisticated manufacturing, and other cutting-edge technology.
Together, we are increasing the overall productive capability of our economy, she remarked. We are improving America’s long-term economic picture as a result.
Early voting is underway in many states, including Virginia..
As the midterm elections draw near, Yellen supports Biden’s plan in Virginia
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