The Late Show Pod Show with Stephen Colbert
Sec. Janet Yellen (Extended)
Jan 20, 2025
Join Janet Yellen, the outgoing Treasury Secretary and economic powerhouse, as she dissects the implications of proposed tariffs, warning they could hike prices for American consumers. She shares insights on tackling inflation, supporting middle-class wages, and the urgent need for clean energy tax incentives. Yellen also lightens the mood with a hilarious tale of an unexpected hallucinogenic dining experience in China and shares candid moments about her personal encounters with smoking and cannabis. An engaging blend of economics and humor!
15:53
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Quick takeaways
- Janet Yellen emphasizes that the administration's proactive measures during the COVID-19 pandemic have significantly stabilized the economy and supported struggling Americans.
- She warns that Trump's proposed tariffs would act as a tax increase for consumers, leading to higher prices and potentially stifling economic growth.
Deep dives
Janet Yellen's Reflections on Economic Achievements
Janet Yellen discusses the accomplishments of the Biden administration, particularly regarding the response to the COVID-19 pandemic and its economic impact. During her tenure, proactive measures such as facilitating vaccinations and providing rental assistance helped stabilize the economy and assist individuals facing financial hardship. Yellen highlights that the U.S. economy is performing strongly, with wage growth allowing typical earners to maintain their purchasing power while having additional savings. Despite this success, she acknowledges that public perception of the economy does not always align with economic indicators, pointing to the ongoing struggles of many Americans with rising costs.
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