Yellen Says Americans Are ‘Better Off’ Despite Higher Price Inflation

The American people are better off today despite rampant price inflation over the last few years, Treasury Secretary Janet Yellen told House lawmakers on Tuesday. Ms. Yellen appeared before the House Ways and Means Committee to outline President Joe Biden’s 2025 budget and defend the administration’s economic record. When pressed on the reacceleration in price pressures, the senior White House official explained that inflation has decreased significantly over the past year. “So, people generally are better off in spite of the price increases,” she told lawmakers. “But we know we have more work to do, and President Biden is very focused on areas where he can lower costs.”...