Yellen praises Biden's "remarkable" economic performance, says the U.S. is on track for a soft landing

U.S. Treasury Secretary Janet Yellen on Thursday praised U.S. President Joe Biden for achieving a "remarkable economic recovery" and said second-quarter GDP and inflation data confirmed that the United States is on the path to "stable growth and declining inflation." Yellen said Biden has restored America's standing in the world. This is the first time Yellen has spoken publicly on the topic since Biden ended his campaign and endorsed Vice President Harris as his successor. "I am extremely proud to serve the American people alongside him and Vice President Harris, and I look forward to continuing to advance American leadership around the world and deliver results for American families and businesses," Yellen said. The strong growth of the U.S. economy, which has created 15.7 million jobs since Biden and Harris took office, is not an accident but the result of the Biden and Harris administration's economic plans, which helps maintain the resilience of the global economy.