Economics isn’t just something you find in a textbook. It can be a potent tool to right past wrongs and improve people’s lives. That’s why so many of Treasury’s 84,000 public servants joined the Department.
Today, I am proud to be one of them.
Today I swore in @JanetYellen as @USTreasury Secretary. Secretary Yellen is a trailblazer, whose deep commitment to working families will be essential as we confront the urgent economic challenges facing the American people.
The Senate took a critical step today.
With the economy down 9.5 million jobs since February 2020, it could be 2 years before the labor market simply reaches its pre-pandemic level. These high rates of job loss threaten the wellbeing of workers & their families.
Such loss may create economic scars that last well beyond the end of the pandemic.
This is why our country is in need of an ambitious relief bill to help Americans endure the final months of this crisis; to put food on the table, checks in the mail, & vaccine shots in the arm.
With the Senate’s vote on the America Rescue Plan, the bill is one step closer to passage. Once the plan is signed into law, I am confident that Americans will be met by a strong economy when we make it to the other side of the pandemic.
Covid-19 showed us that our society values certain workers far more than our labor markets often indicate. Grocery clerks, mail carriers, nurses: We started calling these workers “essential” in 2020, but they really always were.
“Essential” or not, almost everybody’s job has changed. Many were lost. Many weren’t re-hired. I know the pain isn’t just in the absence of a paycheck.
As an economist, some of my research focused on ways feelings of dignity & purpose are inseparable from how we make money.
As an economist— and an American— I applaud the House’s favorable vote on the American Rescue Plan.
There’s a broad consensus among economists: People need more help putting food on the table & keeping a roof over their head until the virus is under control. This plan does that.
Millions of women have lost their jobs or dropped out of the workforce during the pandemic. I wrote about how this is a national emergency that demands a national solution. washingtonpost.com/opinions/…
We mourn the loss and celebrate the life of service & wisdom of former Treasury Secretary George Shultz. An American giant, his decades of dedicated public service shaped our country & the work of this department forever. Our Treasury family sends condolences to his family.
As I told @RobinRoberts this week— our country is hurting right now, but we know what we need to do to help. We need the American Rescue Plan so Americans make it through the pandemic and are met with a strong, growing economy on the other side.
EXCLUSIVE: “I want to make sure that Americans don’t suffer needlessly…I think we know what those needs are and we need to act forcefully.”
Treasury Secretary @JanetYellen speaks to @RobinRoberts in first interview since becoming the first female in history to take the role.
We know what economic crises do. They hit people of color harder & longer. They push our country away from our values, towards more inequality. The current crisis will do this again unless we act—& act big.
I met with @VP & @usblackchambers today to discuss.
.@ClimateEnvoy — Climate Change is not just an environmental issue, it is an economic issue. All the smartest economists agree on this: The cost of fighting climate change now is nothing compared to the cost of suffering through it later.
.@JanetYellen and I know that this is not a moment, it’s a movement – so we’re turning climate energy into climate action with climate finance. It is cheaper to prevent damage than it is to clean it up. Common sense. #HistoryIsHappening Climate 🤝 Finance
February is #BlackHistoryMonth & I want to be sure that we don't forget about Black economic history. We talk a lot about widening inequality in this country, but less about how African Americans have long been on the losing end of this trend. (1/2)
Black families continue to lose out. Household income for Black Americans remains about 60% of that of whites, & the wealth gap between white & Black families has barely budged since the Civil Rights Act passed. We need to make sure the American economy works for everybody. (2/2)