‘Cost of Living in Many Areas Is Very High’

Treasury Secretary Janet Yellen said in an interview with Bloomberg on Monday that in response to polling data on the economy and declining consumer confidence, “the cost of living is very high in many places. And that’s a concern for the American people.” “Doing everything we can to lower the cost of living is President Biden’s top priority.”

asked Anne-Marie Hordern, Bloomberg host and chief political correspondent.[W]If you look at recent consumer sentiment, a survey was conducted in Michigan on Friday, and you look at recent polls, inflation remains a top concern for American voters. How can you potentially get them to see your perspective on how the economy is working?”

Yellen said, “Well, the cost of living is very high in many places. And that’s a concern for the American people, and doing everything we can to lower the cost of living is a top priority for President Biden. But why? I’m here in Stafford County because this really shows one way that it happens. What I’m looking at is a fairly remote area of ​​Virginia with no access to the internet at all. And President Biden has pledged to make sure every American home and business has access to the internet. The funding included in the infrastructure bill provided significant funding to make internet available and affordable everywhere, and what we’ve seen during the pandemic. The thing is, access to the internet is essential for education, employment, health care. And this is a very important tool that every family needs to have access to. So make it available and ensure it. What I’m going to look at here today is a project that has been successful in reaching about 700 households in this area. This is one of the ways President Biden is working to reduce costs. One. Living expenses.