<p>Treasury Secretary Janet Yellen told Americans on Tuesday that their household finances were &#8220;quite strong&#8221; despite numerous polls indicating that&#8217;s not at all what average families are seeing from their kitchen tables.</p>
<p>Yellen made the assertion during an interview that aired on CNBC, where she concede that some lower-income families might be close to &#8220;exhausting&#8221; any buffers they may have had with regard to savings — but insisted that otherwise, household finances and the economy as a whole were &#8220;quite strong.&#8221;</p>
<p><strong>WATCH:</strong></p>
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
<p lang="en" dir="ltr">.⁦<a href="https://twitter.com/SecYellen?ref_src=twsrc%5Etfw">@SecYellen</a>⁩ tells Americans that their household finances are “quite strong” <a href="https://t.co/gV1ns38B4U">pic.twitter.com/gV1ns38B4U</a></p>
<p>&mdash; Tom Elliott (@tomselliott) <a href="https://twitter.com/tomselliott/status/1777668796330746095?ref_src=twsrc%5Etfw">April 9, 2024</a></p></blockquote>
<p>&#8220;I believe inflation will continue to come down,&#8221; Yellen said — and when asked whether she believed the economy would &#8220;continue to hold up&#8221; in the days to come, she replied, &#8220;I think we&#8217;ve got a good, strong economy.&#8221;</p>
<p>&#8220;We&#8217;ve got very strong domestic demand, consumers are holding up — some low income consumers are perhaps exhausting their buffers of saving that they built up during the pandemic, we&#8217;re seeing a little bit more distress at the household level there, but generally households are in very good financial shape, our financial system is generally quite strong,&#8221; Yellen continued.</p>
<p>Yellen&#8217;s comments come on the heels of a number of polls indicating that average Americans do not agree with her — and many of them believe they were economically better off under former President Donald Trump than they have been under President Joe Biden.</p>
<p>A recent evaluation of several polls — compiled in late March by the <a href="https://www.brookings.edu/articles/how-voters-feel-about-the-economy-4-takeaways-from-the-latest-polls/" target="_blank" rel="noopener">Brookings Institution</a> — showed that nearly across the board, Americans don&#8217;t believe the Biden economy has done them any favors.</p>
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<p>A <a href="https://www.nytimes.com/2024/03/05/business/economy/biden-economy-times-siena-poll.html" target="_blank" rel="noopener">New York Times poll</a> conducted in early March, for example, showed that just 26% saw economic conditions as &#8220;excellent or good.&#8221; More than half (51%) said conditions were &#8220;poor&#8221; and 23% said that economic conditions were &#8220;fair.&#8221;</p>
<p>An <a href="https://d3nkl3psvxxpe9.cloudfront.net/documents/econTabReport_mTlzQOB.pdf#page=111" target="_blank" rel="noopener">Economist/YouGov survey</a> published in late March did not paint a rosier picture for Biden: just over one-fifth of voters (21%) believed the economy was getting better, while more than half (52%) said that it was getting worse.</p>
<p>A March poll from <a href="https://www.cbsnews.com/news/poll-trump-leads-biden-economy/" target="_blank" rel="noopener">CBS News</a> took things a step further, asking voters to directly compare Biden&#8217;s economy to Trump&#8217;s: when they did so, only 38% rated Biden&#8217;s economy as good — compared to 65% who said Trump&#8217;s economy was good.</p>

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Sec Yellen Econ-Splains To Average Americans: Your Finances Are Fine, Everything Is Fine