Yellen opened the IMF and World Bank annual meetings by highlighting US 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.”
The IMF expects the US economy—the world’s largest—to expand 2.8 percent this year, down slightly from 2.9 percent in 2023 but an improvement on the 2.6 percent it had forecast for 2024 back in July. Growth in the United States has been led by strong consumer spending, fueled by healthy gains in inflation-adjusted wages.
Yellen, like other federal officials, is barred from partisan political activity by the Hatch Act and chose her words carefully in her speech. But she praised Biden-Harris initiatives on climate, health care, infrastructure spending and other areas.
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