Yellen on Poor Views of Economy: People ‘Seem to Feel Good About Their Own Personal Finances’
Breitbart ^ | 10/27/2023 | IAN HANCHETT
Posted on 10/27/2023, 9:19:34 AM by ChicagoConservative27
During an interview with Bloomberg on Thursday, Treasury Secretary Janet Yellen reacted to negative sentiment on the direction of the American economy by stating that people “have been through a lot with the pandemic and the lockdown for almost two years, then a period of high inflation” and there are structural issues that have existed for a while, but people “do seem to feel good about their own personal finances.”
Yellen said, “I think Americans have been through a lot with the pandemic and the lockdown for almost two years, then a period of high inflation. And, as you say, they do seem to feel good about their own personal finances. Surveys of job satisfaction suggest people feel good about their work, too. We’ve rarely seen higher numbers on job satisfaction. But they seem very worried about the economy and that things are not doing well. The U.S. economy has suffered from structural problems…for a very long time. A significant share of the population, particularly those who haven’t had a college education, have really not seen meaningful growth in their real income and have seen a decline in job opportunities over, really, approaching 50 years. And I think what Americans need to know is that the Biden-Harris administration is really decisively changing that.”
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