Yellen says isolationism 'made America and the world worse off' in speech to global finance leaders
Treasury Secretary Janet Yellen says the U.S. economy has grown stronger because the Biden administration rejected isolationism, offering a barely veiled criticism of former President Donald Trump’s policies two weeks before the U.S. election
WASHINGTON (AP) — Treasury Secretary Janet Yellen told world financial leaders Tuesday that the U.S. economy has grown stronger because the Biden administration rejected isolationism, offering a barely veiled criticism of former President Donald Trump’s policies two weeks before the U.S. election.
Yellen opened the IMF and World Bank annual meetings by highlighting U.S. economic growth since the nation was in the grips of the COVID-19 pandemic. Without mentioning Trump by name, she said in a speech that the Biden administration had ended a period of international isolationism that “made America and the world worse off.”
”We went from millions having lost their jobs to a historic labor market recovery,” Yellen said. She said U.S. economic growth has been “almost twice as fast as most other advanced economies this year and last, even as inflation came down sooner.”
The IMF released its international outlook on the global economy on Tuesday morning and upgraded its economic outlook for the United States this year while lowering its expectations for growth in Europe and China.
