Treasury Secretary Janet Yellen on Monday unveiled a new slate of financing initiatives to support housing development, including a $100 million fund specifically for affordable housing.
The announcement comes days before President Joe Biden faces off against former President Donald Trump in the first presidential debate, where inflation is likely to be a key point of contention. The past several inflation reports have shown prices slightly cooling off, but shelter costs have remained persistently hot. The June consumer price index found overall inflation stayed flat in May, even while shelter inflation rose 0.4%.
While the president hunkers down at Camp David to prepare for Thursday’s debate, Yellen is among a slew of Biden cabinet members who are making the rounds nationwide in an effort to promote the president’s economic agenda. Acting Secretary for Housing and Urban Development Adrianne Todman and Transportation Secretary Pete Buttigieg, for example, have been traveling across the country to tout Biden’s infrastructure investments.
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