According to a copy of Janet Yellen's remarks, Treasury Secretary Janet Yellen will warn Wednesday about the importance of President Joe Biden's economic agenda to maintaining America's position as the world's top power.Yellen will give the Atlanta address as part of a White House messaging blitz to rally support for the trillion-dollar bipartisan Infrastructure Bill and the Democrats' larger $3.5 trillion spending plan. This will be her first domestic visit and a reflection on her growing visibility as a champion for large investments in "human capital"."We have become accustomed to America being the preeminent economic power in the world. "We aren't destined for that to continue, but with these investments we will," Yellen stated in her prepared remarks. We have an opportunity now to fix the foundations of our economy and to create something better and more powerful than what was before.These comments are made at an important moment in negotiations between Capitol Hill and the Senate. While the Senate is negotiating the final details for the infrastructure bill, Democrats are trying to unite their party around a larger spending package. Yellen will encourage lawmakers to not lose sight of their ambitions, arguing that the nation’s economic recovery did not occur by default.She instead credits the Biden administration's policies for the rapid recovery from recession. She said that long-term secular problems such as declining labor force participation, wage Polarization, and climate change are all choices and not inevitable outcomes."Fiscal policy is able to help them unwind. Or they can be intensified by their absence," Yellen stated.
