On Monday’s broadcast of CNN’s “OutFront,” Treasury Secretary Janet Yellen responded to poor polling numbers on the economy and President Joe Biden’s handling of the economy by stating that people tell pollsters they’re happy about their own financial situation and “So, they seem to perceive the economy as a whole as doing less well than they are personally. But most Americans feel good about their own economic situation.”
Host Erin Burnett asked, “The latest CNN poll, Secretary Yellen, shows that 75% of Americans believe the economy is in poor condition, and maybe that’s because, again, even though inflation rates have come down, they are still paying more. 63% of people in this poll disapprove of how President Biden is handling the economy. What do you say, Secretary Yellen, to the clear majority of Americans who simply do not believe that the administration is helping them?”
Yellen responded, “Well, Americans know best, I think, about their own personal finances. And it is important to recognize that when they’re asked how are they personally doing, over 70% of Americans say that they’re very comfortable with their financial situation. So, they seem to perceive the economy as a whole as doing less well than they are personally. But most Americans feel good about their own economic situation. And, of course, I’m here in Nevada today to talk to people about President Biden’s economic plan over the last year, real wages have been rising in almost all sectors of the economy and the biggest gains have gone to low-income workers who have seen a significant reduction in inequality.”
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