<p>Treasury Secretary <a href="https://www.dailywire.com/topic/janet-yellen" target="_blank" rel="noopener">Janet Yellen</a> was <a href="https://abcnews.go.com/ThisWeek/video/1-1-janet-yellen-111164541" target="_blank" rel="noopener">pressed on Sunday</a> to answer why voters are unhappy with the economy under President Joe Biden just months ahead of his expected rematch against former President Donald Trump in the 2024 election.</p>
<p>Jonathan Karl, a co-anchor of ABC News&#8217;s &#8220;This Week,&#8221; set up the question by telling Yellen that she had &#8220;cited a lot of positive macroeconomic indicators&#8221; while commenting on the economic situation in the United States.</p>
<p>&#8220;The rate of inflation is coming down. Unemployment is low. The economy&#8217;s growing. But why is it then that voters seem so unsatisfied?&#8221; Karl asked. &#8220;And in fact, in poll after poll, voters say they trust Donald Trump with the economy more than Joe Biden. What&#8217;s going on?&#8221;</p>
<p>&#8220;Well, I think the pandemic was a profoundly difficult time,&#8221; Yellen replied. &#8220;But in the years leading up to the pandemic, Americans were really, many of them, working-class families just struggling with things like healthcare costs, the cost of energy, education costs, childcare costs.&#8221;</p>
<p>She added, &#8220;And so they really feel the cost of living. Housing is particularly unaffordable in so many parts of the country. And I think the inflation that we experienced after the pandemic just compounded this feeling for them that life isn&#8217;t affordable. So it is the Biden administration&#8217;s top priority to address these costs where we possibly can.&#8221;</p>
<p>Karl interjected to focus on inflation.</p>
<p>&#8220;Yeah, and just to be clear, I mean, the rate of inflation is coming down, but overall inflation is up 19% since President Biden took office,&#8221; Karl said. &#8220;On some everyday goods, it&#8217;s much higher. The price of eggs is up 84% since President Biden took office; ground beef, up 30%; bread, up 27%. I mean, by and large, inflation rate may go down, but those prices aren&#8217;t returning to where they were. I mean, those prices are going to remain high.&#8221;</p>
<p>Yellen said &#8220;it is true that, over the last roughly three years, there&#8217;s been a significant increase in the price level. It&#8217;s now rising at a very slow, close to normal rate. But, yes, Americans see that, and mainly it comes on top of concerns about costs that were making life very difficult. So it&#8217;s something the Biden administration absolutely wants to address. I would point out, of course, that wages have also gone up during this time, and government studies show that, for all — for households at all points in the income distribution — wages have gone up somewhat more than prices. So the typical American is somewhat better off.&#8221;</p>
<p>Karl also asked Yellen to comment on Trump floating the idea of replacing federal income taxes with tariffs.</p>
<p>&#8220;It would require tariffs well over 100%,&#8221; Yellen said. &#8220;The impact would be to make life unaffordable for working-class Americans and would harm American businesses.&#8221;</p>

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Yellen Grilled On Voter Dissatisfaction With Economy Under Biden

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Yellen Grilled On Voter Dissatisfaction With Economy Under Biden