Yellen touts CHIPS and Inflation Reduction Acts in Michigan
U.S. Treasury Secretary Janet Yellen says the Biden Administration is taking steps to slow both inflation and climate change
Yellen made the remarks Thursday at the Ford Rouge Electric Vehicle Center.
The Treasury secretary says the pandemic and the war in Ukraine reveals how vulnerable the U.S. remains to disruptions in its global supply chain.
Yellen argues the president’s recent legislative victories will lead U-S manufacturers to rely on home-grown products, create new jobs, and eventually stabilize prices:
“Taken together the bipartisan infrastructure law…the CHIPS Act and the Inflation Reduction Act authorize among the most significant investments our country has ever made.”
Yellen’s beginning a series of speeches over the next month touting the Biden Administration’s efforts to help the U.S. economy, a key issue in the upcoming mid-term elections.