The White House is talking about the Biden economic record as something to embrace, a shift heading into the midterms.
The idea is to expand the supply side of the economy — not through tax cuts or deregulation , but through injecting large sums of cash into sectors and communities that have been "too-long neglected," which "will raise the ceiling for what our economy can potentially produce," Yellen said.
The happy messaging on the economy may not read well at a time of soaring grocery prices and overall prices rising faster than wages . Yellen acknowledged the Biden administration's biggest near-term challenge is bringing inflation down "without sacrificing the economic gains of the past two years."if Republicans win one or both houses of Congress in November, the window for major legislative accomplishments would likely close. Biden advisers see some potential for smaller-scale bipartisan bills, however, on issues like housing policy.
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