US Treasury Secretary Janet Yellen will boast about the creation of 13 million new jobs and her success in driving down inflation in a major speech in Las Vegas on Monday, according to a Treasury official.
Yellen will speak at a training center run by the International Brotherhood of Electrical Workers (IBEW) union after seeing its cutting-edge sustainable energy training programs where workers learn how to install solar panels.
The statements in Nevada, which is expected to be a crucial battleground state in the 2024 presidential election, are part of a month-long tour by President Joe Biden and his cabinet to persuade skeptical Americans that their policies are working to stimulate economic growth and combat global warming.
The United States’ economy has outrun recession fears, with record-low unemployment, significant wage gains, and stronger-than-expected GDP growth, according to a Reuters/Ipsos survey released last week. However, many voters who supported Biden in 2020 believe the economy has fared poorly, and may not vote for him in the 2024 race.
Yellen’s address comes just two days before the one-year anniversary of the Inflation Reduction Act (IRA), one of three important laws implemented since Biden took office that, according to Yellen, are reshaping the US economy, restoring its industrial base, and making it fairer for workers and businesses.
“Yellen would remark the US economy is on the right track toward stable growth, while emphasizing the importance of remaining watchful about potential difficulties,” according to a Treasury official
“She will underline that the resiliency of the US economy, which she lauded in a major speech last July, has endured over the past year, despite many critics warning it could not survive,” the official added.
“Yellen will emphasize that the IRA is making the United States less vulnerable to fossil fuel price shocks and building clean energy supply networks, all while creating good-paying jobs,” according to the official.
