JD Vance Had the Perfect Response to This Question By CBS News' Margaret...
Trump's Border Czar Shuts Down the Bleeding Heart Antics on Immigration By This...
This Is Exactly How I Want These DOJ Prosecutors to Feel After Trump's...
Week One Into Trump's Second Presidency Showed the Media Couldn't Let January 6...
White People, You are Responsible for High Egg Prices
Feds Round Up Dozens of Tren de Aragua Members in Colorado Raid
Trump to Sign Executive Order Reinstating Service Members Kicked Out of Military Over...
Presidential Approval Poll Has an Interesting Finding When It Comes to Race
Politicians Say It Was a 'Disgusting Miscarriage of Justice' for Biden to Grant...
Charlie Kirk: Vivek Ramaswamy For Governor of Ohio
This Teacher Says He's OK with ICE Raiding His School
'A Disruptor': JD Vance Weighs In on Pete Hegseth's Confirmation
Are EU Appeasers Trying to Hinder Trump on Iran?
Monsters Everywhere
Catholic Bishops Came Out Against Trump's Illegal Immigration Policies. Here's How JD Vanc...
Tipsheet

Yellen Pressed to Explain Voter Frustration With the Economy Under Biden. Here's What She Had to Say.

AP Photo/Jacquelyn Martin

Treasury Secretary Janet Yellen on Sunday was asked to explain voter dissatisfaction with the economy under President Biden, despite “positive macroeconomic indicators.”

Advertisement

“The rate of inflation is coming down. Unemployment is low. The economy’s growing. But why is it then that voters seem so unsatisfied?” ABC News’s Jonathan Karl wondered. “And in fact, in poll after poll, voters say they trust Donald Trump with the economy more than Joe Biden. What’s going on?”  

Yellen argued Americans were facing tough economic times leading up to the pandemic, which became the tipping point.   

“I think the pandemic was a profoundly difficult time,” Yellen said. “But in the years leading up to the pandemic, Americans were really, many of them, working-class families just struggling with things like healthcare costs, the cost of energy, education costs, childcare costs.

“And so they really feel the cost of living,” she continued. “Housing is particularly unaffordable in so many parts of the country. And I think the inflation that we experienced after the pandemic just compounded this feeling for them that life isn’t affordable. So, it is the Biden administration’s top priority to address these costs where we possibly can.”

 Karl followed up, however, questioning her on inflation. 

“Just to be clear, I mean, the rate of inflation is coming down, but overall inflation is up 19 percent since President Biden took office,” Karl said. “On some everyday goods, it’s much higher. The price of eggs is up 84 percent since President Biden took office; ground beef, up 30 percent; bread, up 27 percent. I mean, by and large, inflation rate may go down, but those prices aren’t returning to where they were. I mean, those prices are going to remain high.”

Advertisement

Yellen acknowledged the price hikes but said "it’s now rising at a very slow, close to normal rate."

Still, the Biden administration "absolutely wants to address" the issue, Yellen added.  

"I would point out, of course, that wages have also gone up during this time, and government studies show that, for all — for households at all points in the income distribution — wages have gone up somewhat more than prices. So the typical American is somewhat better off," she claimed. 

 


Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos

Advertisement
Advertisement
Advertisement