Biden administration’s economic plans will shift investment to ‘forgotten’ U.S. cities, Yellen says

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In excerpts from a speech the U.S. Treasury Secretary is due to deliver in Detroit, she said the Biden administration’s economic agenda is both ‘pro-growth and pro-fairness’

The Biden administration’s recently enacted spending plans for green energy, technology and infrastructure will shift investment more broadly across the United States, not just to prosperous coastal cities, Treasury Secretary Janet Yellen plans to argue on Thursday.

Unlike the Reagan-era term that focused on tax cuts and deregulation to encourage productive investments, Yellen will argue that her version will focus on a range of investments to boost productivity across more “sectors, people and places.” “Given its manufacturing focus – and manufacturing’s reliance on strong infrastructure and supply chains – we expect to see dollars catalyze innovative investments across cities and towns that haven’t seen such investment in years.”

 

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That’s French for blue city bailout.

What a nice change having a good President now vs a crook.

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