United States Treasury Secretary Janet Yellen will remark later on Wednesday that even though all policy choices "entail tradeoffs," outgoing President Joe Biden's "sound decisions ... set the economy on a strong course," according to excerpts from her speech that she'll deliver at the New York Association for Business Economics.
Yellen will state that even though everyday goods prices jumped following the COVID-19 pandemic, the Biden administration's American Rescue Plan was an action that helped American citizens avoid "significant hardships." A strong jobs market, alongside a falling unemployment rate, helped Washington steer clear of "labor market scarring," she is expected to say.