Treasury Secretary Janet Yellen has warned that “veering off course” in the 2024 election could inflict significant damage on the economy.
Yellen said that there were several signs of life in the economy under the Biden-Harris administration, and that turning away from those successes in November could “jeopardize our economic trajectory,” in a tacit endorsement of Vice President Kamala Harris.
Writing in an op-ed for the Wall Street Journal on Sunday, Yellen said: “While there’s more to do to bring down the cost of living, Americans can feel optimistic about their economic futures.
“Because wages have risen faster than prices, the typical American can now afford more goods and services than before the pandemic.”
While Yellen accepted that more needed to be done to address the issues of the cost of living, she also made a clear statement to voters looking ahead to the election in November, warning that “veering off course could jeopardize our economic trajectory.”
In a slight against Trump, without naming the former president directly, Yellen added that tax cuts for higher earners would “explode the federal deficit,” and that pursuing “nontargeted, nonstrategic international economic policies” would only worsen Americans’ cost of living crisis.
Read more at Newsweek.com
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