"Yellen Advocates Economic Agenda and Addresses Inflation in Pittsburgh and Detroit"

Treasury Secretary Janet Yellen stated that American workers are now better off as their wages are rising faster than inflation, despite discomfort caused by higher prices. Inflation, the top concern for Americans, has cooled since reaching a 40-year high in June 2022, with hourly earnings now outpacing inflation. Yellen highlighted strong economic indicators such as robust consumer spending and low unemployment, but acknowledged that many Americans still face economic burdens, including expensive childcare and education. She expressed confidence that President Biden's policies will address these concerns and predicted a further decline in inflation, while also stating that a recession is unlikely at this point.