00:00Secretary Yellen, first, thank you for being here.
00:02I have a question more about the economy domestically.
00:06Overall, inflation has gone down,
00:08but the average American is still
00:09struggling with everyday goods.
00:11I know here I've reported frequently
00:13on how the average person is supplementing their household
00:17food groceries with visits to the food bank.
00:19What do you say to those people who
00:22are not seeing the benefits of Biden's economic policy
00:24and every day are still trying to make ends meet?
00:27Well, I think the problems with Americans
00:32feeling that there are necessities of life that
00:36are just becoming unaffordable really date back some way.
00:41But the price increases that occurred during the pandemic
00:45made matters worse.
00:48And President Biden understands the struggles
00:50that American households face.
00:54Their affordable housing is extremely
00:58hard to find, limited in supply.
01:02President Biden has taken a number
01:05of steps to address that.
01:08We consider it a critical priority
01:10to increase the supply of affordable housing.
01:14Health care, President Biden's worked hard
01:18to make sure for seniors to limit co-pays on insulin
01:24to $35 and to limit overall co-pays that seniors face
01:31who are part of Medicare.
01:33And working to lower on a permanent basis,
01:39keep low the premiums for the Affordable Care Act.
01:44Child care is becoming unaffordable for so many
01:47Americans.
01:48President Biden has proposed ways to address that as well.
01:54President Biden wants to cut taxes for hardworking families.
01:59During the pandemic, we had in place a child tax credit
02:05so that a family with two children under the age of 16
02:12were receiving typically $600 on a monthly basis
02:16to help with expenses.
02:18And we saw the biggest reduction in the poverty rate
02:21by almost 50% as a consequence.
02:26So President Biden has made affordability his top priority.
02:32He's obviously taken steps in education
02:35for giving student loans and other things
02:40and trying to make sure that working families can afford
02:47a decent standard of living really is a top priority.
02:52All right.
02:52Thank you, everybody.
Comments