AP

Yellen boosting Biden’s agenda in Virginia as midterms near

Oct 21, 2022, 3:01 AM | Updated: Oct 25, 2022, 10:31 am

HERNDON, Va. (AP) — Treasury Secretary Janet Yellen is promoting Biden administration policies as the key to advancing the nation’s “long-term economic well-being” in the lead-up to the midterm elections.

The former Federal Reserve chair visited a Virginia research and development business park with Democratic Sen. Tim Kaine on Friday and talked up administration efforts to revitalize America’s manufacturing capacity, spur computer chip production and upgrade the country’s infrastructure. Rep. Gerry Connolly, D-Va., was also in attendance.

Yellen’s visit is part of the Treasury leader’s ongoing tour of the U.S., as she and other administration officials try to quell the impact on Americans of persistent high inflation. Republicans say the administration’s outsized pandemic spending and other domestic policies have contributed to high inflation.

Voters have made clear that price increases are a top concern. A June Associated Press-NORC Center for Public Affairs Research poll showed that 40% of U.S. adults specifically named inflation in an open-ended question as one of up to five priorities for the government to work on in the next year.

Democrats want to retain their control in Congress and will need to convince voters they can wrangle inflation, which accelerated in September. In Virginia, Yellen talked about how a boost in domestic industrial manufacturing will be one of the solutions.

“Our government’s failure to invest in innovation has had wide-ranging impacts on our long-term economic well-being,” Yellen said during her speech. “At the most fundamental level, it impacted our productive capacity.”

She said that over the past year, President Joe Biden’s administration “has begun to reverse that trend.”

“We have advanced an economic plan that finally puts innovation and technology at the forefront of our national agenda,” she said.

Kaine said Virginia “was a laggard in clean energy even up to five or 10 years ago.” But with investments from the new federal climate and health care law and other programs “we’re now positioned to lead the United States in offshore wind,” he said.

Yellen also attended a roundtable with local entrepreneurs and people representing Virginia colleges who are focused on semiconductors, advanced manufacturing and other emerging technologies.

“Together, our efforts are raising our economy’s aggregate production capacity,” Yellen said. “And in turn, we are raising America’s long-term economic outlook.”

Early voting is underway in many states, including Virginia.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

A Gila monster is displayed at the Woodland Park Zoo in Seattle, Dec. 14, 2018. A 34-year-old Color...

Associated Press

Colorado man dies after being bitten by pet Gila monster

A Colorado man has died after being bitten by his pet Gila monster in what would be a rare death by one of the desert lizards if the creature's venom turns out to have been the cause.

13 hours ago

Police clear the area following a shooting at the Kansas City Chiefs NFL football Super Bowl celebr...

Associated Press

1 dead, many wounded after shooting at Kansas City Chiefs’ Super Bowl victory parade

One person died after 22 people were hit by gunfire in a shooting at the end of the Kansas Chiefs' Super Bowl victory celebration Wednesday.

8 days ago

This image from House Television shows House Speaker Mike Johnson of La., banging the gavel after h...

Associated Press

GOP-led House impeaches Homeland Security Secretary Mayorkas — by one vote — over border management

Having failed to impeach Homeland Security Secretary Alejandro Mayorkas the first time, House Republicans are determined to try again Tuesday.

9 days ago

Defense Secretary Lloyd Austin, right, and Kenya's Defense Minister Aden Duale, left, listen during...

Associated Press

Defense Secretary Lloyd Austin hospitalized with bladder issue

Defense Secretary Lloyd Austin has been hospitalized following symptoms pointing to an “emergent bladder issue."

10 days ago

Joel Osteen, the pastor of Lakewood Church, stands with his wife, Victoria Osteen, as he conducts a...

Associated Press

Woman firing rifle killed by 2 off-duty officers at Houston’s Lakewood Church run by Joel Osteen

A woman entered the Texas megachurch of Joel Osteen and started shooting with a rifle Sunday and was killed by two off-duty officers.

11 days ago

Joel Osteen, the pastor of Lakewood Church, stands with his wife, Victoria Osteen, as he conducts a...

Sponsored Content by

A woman entered the Texas megachurch of Joel Osteen and started shooting with a rifle Sunday and was killed by two off-duty officers.

Sponsored Articles

...

Day & Night Air Conditioning, Heating and Plumbing

Day & Night is looking for the oldest AC in the Valley

Does your air conditioner make weird noises or a burning smell when it starts? If so, you may be due for an AC unit replacement.

(KTAR News Graphic)...

Boys & Girls Clubs

KTAR launches online holiday auction benefitting Boys & Girls Clubs of the Valley

KTAR is teaming up with The Boys & Girls Clubs of the Valley for a holiday auction benefitting thousands of Valley kids.

...

Canvas Annuity

Interest rates may have peaked. Should you buy a CD, high-yield savings account, or a fixed annuity?

Interest rates are the highest they’ve been in decades, and it looks like the Fed has paused hikes. This may be the best time to lock in rates for long-term, low-risk financial products like fixed annuities.

Yellen boosting Biden’s agenda in Virginia as midterms near