The Treasury chief’s trip came as Democrats in competitive districts sounded the alarm that the party’s messaging around the economy was weak
U.S. Treasury Secretary Janet Yellen prepares to speak during a meeting of Eurogroup finance ministers at the European Council building in Brussels on July 12, 2021.ATLANTA — Treasury Secretary Janet Yellen in a visit to Georgia on Wednesday touted the bipartisan infrastructure package as vital to fighting “destructive forces” holding back the American labor force, as the White House sought to amplify its economic messaging in a key battleground state.
“Georgia clearly is on the minds of the Biden administration,” Atlanta Mayor Keisha Lance Bottoms said alongside Yellen at an event at Invest Atlanta, an economic development agency.that the party’s messaging around the economy was weak. GDP growth has been strong enough to bring the country out of the hole left by the pandemic, but Republicans have been hammering the Biden administration for price increases in key categories like food and cars.
“My largest concern is not, 'What are the risks if we make these big investments?'” Yellen said. “It is, 'What is the cost if we don’t?'” “These destructive forces … are different economic challenges in some ways than the ones that came along with the pandemic,” she said. “They’re longer term, slower moving. But they share something in common: Both are subject to our policy choices.”
“Taken together, [credit rating agency] Moody’s estimates that these investments will significantly increase real GDP over the next decade, boost labor force participation and reduce the unemployment rate,” Yellen said.
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