Treasury Sec. Janet Yellen said that the administration’s infrastructure spending proposal will lower inflation by reducing costs vital to households.
"It will boost the economy's potential to grow, the economy's supply potential, which tends to push inflation down, not up," she said. "For many American families experiencing inflation, seeing the prices of gas and other things that they buy rise, what this package will do is lower some of the most important costs, what they pay for health care, for child care. It's anti-inflationary in that sense as well.
Part of the administration's G-20 agenda will be addressing its pet economic concerns, including the implementation of a global minimum for corporate taxes, as well as climate change and the supply chain issues that have hampered growth and threaten to cut into holiday spending patterns. Yellen said she expects the supply chain situation "will be addressed over the medium term."
She called the White House's Build Back Better program "transformational" in addressing the economy's needs as the nation seeks to emerge from the
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