April 28, 2021

Statement on the American Families Plan, given after President Biden’s Statement to the Joint Session, which focused on the new American Families Plan among other topics.

Tonight, President Biden placed education and caregiving squarely where they should be in our national discussion — as core elements of a strong economy. Historically, childcare and other social programs to help families haven’t been seen as crucial investments underpinning American growth and productivity. But this is a failure of perspective. A healthy U.S. economy requires a vibrant labor market with high rates of participation. Raising U.S. rates of participation to…

April 22, 2021

Remarks to the Leaders Summit on Climate, in a session titled Investing in Climate Solutions, with Special Presidential Envoy for Climate John Kerry and
National Economic Council Director Brian Deese.

President Biden, Secretary Kerry, and other distinguished guests, I am honored to join you at today. The global community has only a short time to avoid the most catastrophic effects of climate change: We need a “sprinting start” now if we wish to achieve our goal of net-zero emissions by mid-century. President Biden has recommitted the United States to do its part to tackle this crisis and…

April 21, 2021

Remarks, as prepared, to the Institute of International Finance on climate change action and the American Jobs Plan infrastructure package.

I first started working on climate change in the 1990s, advising President Clinton as Chair of the Council of Economic Advisers in the runup to the 1997 Kyoto Conference of Parties. We understood that the potential cost of climate change was significant.

Of course, we know what the trajectory has been ever since. Over the past 30 years, the incidence of natural disasters has dramatically increased and the actual and future potential cost to the economy has…

April 6, 2021

Remarks as prepared, addressing the threat of climate change to the Coalition of Finance Ministers for Climate Action after the United States rejoined the group in early April 2021.

Thank you to Minister Vanhanen and Minister Cerda for inviting me to speak to you today.

Let me begin by saying how excited the Biden-Harris Administration is to bring the United States back into the fold to tackle the generational issue of climate change. Climate, by its very nature, requires strong global cooperation. We lost four important years, and we recognize that many of you around the room…

April 6, 2021

A conversation between Secretary Janet Yellen, World Bank Group President David Malpass, and IMF Managing Director Kristalina Georgieva. This conversation was pre-recorded and then streamed by the World Bank as part of their 2021 Spring Meetings conversation series.

“Economic Recovery: Toward a Green, Resilient, and Inclusive Future”


Thank you very much, Larry. It’s a pleasure to be here with IMF Managing Director Kristalina Georgieva and with U.S. Treasury Secretary Janet Yellen to discuss the economic recovery in the kickoff of our Spring Meetings. The world faces major challenges, including COVID, climate change, rising poverty and inequality…

Remarks covering international priorities, promoting rights and prosperity for women and girls, equitable taxation, sustainable recovery focusing on public health, fiscal policy that promotes innovation & security, commitment to protecting American values of security and inclusion, using financial measures to address the pressing threat of climate change, and what it means for the United States to engage on the world stage at this critical moment in history.

April 5, 2021

Remarks, as prepared, on international priorities, economic policies, and the United States’ role in promoting an inclusive and sustainable global recovery. Address given to The Chicago Council on Global Affairs, beginning the week of Annual Spring Meetings with the IMF and World Bank.

America is strongest when we engage with the world.

When I was born, the United States was still recovering from the Great Depression and World War II. These tragedies cost countless lives; too many families lost nearly everything. …

April 1, 2021

Statement on President Biden’s announcement of the American Jobs Plan

For the past 40 years, the federal government has gradually shrunk its investment in public goods: schools, infrastructure, and research into new technologies. This slow decline has undermined broad-based growth. It has weighed-down productivity and curtailed our ability to respond to our nation’s most pressing challenges, including the threat of climate change.

The President’s Jobs Plan unwinds these troubling trends, while also making our economy far more competitive on the world stage.

The plan revamps a flawed corporate tax code that incentivizes off-shoring and, instead, rewards companies…

March 31, 2021

Letter to Treasury staff on the end of Women’s History Month.

Dear colleagues,

Today is the last day of March, which means it’s the last day of Women’s History Month.

I began the month by discussing women in the economics profession. I wanted to end the month, though, by looking at the bigger picture, with some thoughts about the recent economic history of women in America.

When I came to Washington in the early ’90s and re-joined the Fed, there was a revolution happening in the economic data. …

March 30, 2021

Remarks as given to the plenary session of the U.S. Hispanic Chamber of Commerce Virtual legislative Summit

Thank you, Alice, for the very kind introduction. And thank you all for having me.

I’ve been an economist for a long time, and one area where I’ve focused my attention is on the disparity in economic outcomes — especially when it comes to race and ethnicity.

It’s probably because I began studying the subject during the Civil Rights Movement. I took my first economics course around 1963. I was a freshman in college.

Since then, our country has endured…

Secretary Janet Yellen

78th Secretary of the Treasury. Former Fed Chair. Always an economist.

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