U.S. Treasury Secretary Janet Yellen outlined President Biden’s economic achievements as many Americans are unhappy with his handling of the economy ahead of a pivotal presidential election.
“Americans are applying to start businesses at a record pace, consumers are buying more, and inflation has come down substantially,” Yellen wrote in an op-ed for The Wall Street Journal.
The latest Labor Department data shows inflation, which topped 9 percent year over year at its peak last June, fell to 3.1 percent in November in part due to an aggressive rate hike campaign by the Federal Reserve.
While the central bank held interest rates steady at its final meeting of the year, Fed Chair Jerome Powell suggested the central bank was close to the end of its rate hike cycle, sending markets soaring and mortgage rates dropping.
Unemployment has also remained below 4…
