Yellen boosts Biden agenda in Virginia as midterm elections approach

Washington – Secretary of Finance Janet Yellen promotes the policies of the Biden administration as key to advancing the nation’s “long-term economic well-being.” midterm elections.

The former chairman of the Federal Reserve Board visited a research and development business park in Virginia with Democratic Sen. Tim Kaine on Friday to discuss the government’s efforts to revitalize it. American manufacturing capacity,spur computer chip production and upgrade national infrastructureCongressman Gary Connolly will also attend.

Yellen’s visit is part of the Treasury Secretary’s ongoing US visit, where she and other administration officials are trying to dampen the effects of the financial crisis. sustained high inflation.

Voters made it clear that rising prices were their number one concern. His Associated Press and his NORC Public Affairs Center polls in June showed: 40% of US adults specifically mention inflation In an open-ended question as one of up to five priorities the government will address in the coming year.

Democrats want to maintain control in Congress and need to convince voters that inflation, which accelerated in September, can be debated. In Virginia, Prime Minister Yellen will talk about how boosting domestic industrial production could be one of the solutions.

“Government’s failure to invest in innovation has had far-reaching implications for the long-term health of the economy,” Yellen said. “At the most basic level, it has impacted production capacity.” said.

She said last year that President Joe Biden’s administration “began to reverse that trend.”

“We have advanced an economic plan that ultimately puts innovation and technology at the forefront of our national agenda,” she said.

Prime Minister Yellen was scheduled to attend a roundtable meeting with local entrepreneurs and representatives of the University of Virginia, which is focused on semiconductors, advanced manufacturing and other emerging technologies.

“Together, our efforts are increasing the economy’s total productive capacity,” she said. “And we’re raising America’s long-term economic prospects.”

Early voting is underway in many states, including Virginia.