Yellen Plugs Biden Agenda to Beat Sluggish Long-Term Growth

Treasury Secretary Janet Yellen touted the benefits of the Biden administration’s social-investment proposals as a means of overcoming what’s projected to be a return to subdued economic growth after the current rapid pandemic recovery.

“Forecasters uniformly agree that growth over the next several decades will be sluggish, limited by slow productivity growth and an aging population that restricts growth in labor supply,” Yellen said in remarks to the Stanford Institute for Economic Policy Research on Friday.