Yellen will make the case in remarks to the Economic Club of
Chicago on Thursday that the pandemic recovery was faster,
fairer and more transformative than previous economic
recoveries, the Treasury said late on Sunday.
In an excerpt of her remarks, Yellen will seek to draw contrasts
with the Trump administration's failure to enact major
infrastructure legislation, touting Biden's $1.2 trillion
infrastructure law, his investments in semiconductors and
hundreds of billions of dollars in clean energy tax breaks.
"Our country's infrastructure has been deteriorating for
decades. In the Trump Administration, the idea of doing anything
to fix it was a punch line. But this administration has
delivered," Yellen will say.
Yellen has previously touted Biden's investment legislation,
taking trips to North Carolina and Boston in recent weeks, but
has avoided direct comparisons with former President Donald
Trump. She will speak in Chicago two days after the Republican
nominating contest in New Hampshire, where Trump is hoping to
deliver a knockout blow to rival Nikki Haley, who was U.S.
ambassador to the United Nations for the first two years of the
Trump administration.
Persistent inflation has hindered Biden's efforts to win credit
from voters for his handling of the economy, but that is now
easing. Yellen has said that as wage increases outpace prices,
Americans will start to feel more financially confident.
Last Friday, the University of Michigan's consumer sentiment
survey for January hit its highest level in 2-1/2 years,
reflecting a brightening of moods across all age and income
groups.
After her speech in Chicago, Yellen will travel to Milwaukee on
Jan. 26 to visit a worker training facility, partly funded by
Biden's $1.9 trillion COVID-19 relief law, the American Rescue
Plan Act.
(Reporting by David Lawder; Editing by Paul Simao)
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