Treasury Secretary Janet Yellen recently expressed concern about the impact of threats to democracy on U.S. economic growth. This warning appeared to be directed towards former President Donald Trump and those who question the integrity of the 2020 election. However, some see the real threat to the economy as coming from President Joe Biden and his administration.
Yellen’s comments were made during an address in Arizona, where she highlighted the potential economic consequences of disregarding democratic processes and institutions. While not specifically naming Trump, Yellen’s remarks seemed to imply the potential impact of his return to the White House.
Despite Yellen’s warnings, many Americans have lost confidence in President Biden’s ability to manage the economy. The latest Gallup poll shows that only 38 percent of respondents trust Biden’s economic stewardship, compared to 46 percent for Trump. This lack of confidence is likely fueled by concerns over inflation and rising costs under the Biden administration.
Critics also point to Yellen’s handling of inflation, where she initially described it as a “transitory” issue before later admitting her mistake. As inflation continues to rise, with implications for mortgage rates and overall cost of living, many Americans are feeling the financial strain.
Overall, there is a growing sense of frustration among middle-income earners who feel the impact of policy decisions made by the current administration. Despite media attempts to spin a positive narrative about the economy, the reality on the ground paints a different picture for many Americans.
In conclusion, Yellen’s warnings about the threat to the economy from Trump are being met with skepticism by those who feel the real economic challenges stem from the policies of the Biden administration. This sentiment is reflected in the lack of trust in Biden’s economic leadership and the ongoing struggle with inflation and rising costs facing many Americans.
