US Treasury Secretary Janet Yellen tours the Ford Motor Company’s Rouge Electric Vehicle Center that builds the all-electric Ford F-150 Lightning with Linda Zhang,(R), chief engineer for the vehicle, before delivering an economic speech in Dearborn, Michigan, on September 8, 2022.
Jeff Kowalsky | AFP | Getty Images
Treasury Secretary Janet Yellen praised Biden administration’s economic policies Thursday during a speech at a Ford Motor Company electric vehicle plant in Michigan.
Yellen, who spoke following a tour of the Rouge Electric Vehicle Center in Dearborn, touted the Democrat-led Inflation Reduction Act, the bipartisan infrastructure law and the CHIPS and Science Act as boons to the manufacturing sector and job growth.
Her speech came as Democrats aim to highlight their economic successes ahead of the midterm elections in November, which will determine whether Republicans can retake one or both chambers of Congress. President Joe Biden will travel to Ohio on Friday to promote the opening of an Intel semiconductor manufacturing facility.
Many of the administration’s policies conform to Yellen’s so-called Modern Supply Side Economics framework. Before the pandemic, she said, higher inequality was accompanied by slower economic growth.
“And now with an economy at full employment, we are uniquely suited for a supply-side expansion that delivers sustainable growth and reduces inequality,” Yellen said.
She also noted the Biden administration’s stabilization efforts “will...
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