Janet Yellen, Treasury Secretary, stated Friday that the Administration’s proposal for infrastructure spending will reduce inflation through lowering several essential costs to households.

Yellen spoke to CNBC in Rome, where she was attending the G-20 conference for global leaders. She reiterated her call for White House spending plans which are not supported by several sections of Congress. These plans have yet to receive approval.

“I don’t think these investments will cause inflation at all,” she said to Sara Eisen, CNBC’s live “Worldwide Exchange”, interview.

During the negotiations with Congress, the spending plans were significantly cut back. It is centered on an effort to improve our nation’s infrastructure. The Biden administration has extended a large umbrella that includes not just traditional investments, roads and bridges, but also a range of social programs such as early childcare.

Inflation is a concern at a time where prices are increasing rapidly, and Yellen says that additional spending will not increase them.

It will improve the economy’s growth potential and supply potential which can push down inflation, rather than up, she stated. This package will lower the cost of child care and health care for many American families who are experiencing inflation. In that sense, it’s also anti-inflationary.

Yellen’s remarks are made at a very difficult time for the U.S. Economy.

While inflation has increased, growth has also slowed. In large part, supply issues have caused dozens of vessels to be stranded at U.S. port ports. The pace of growth of gross domestic products slowed to 2.2% in the 3rd quarter. It is now the slowest rate of growth since the April 2020 pandemic-induced depression.

The administration will address its economic problems through the G-20 Agenda. This includes the introduction of a global minimum corporate tax, and addressing supply chain and climate issues. These are all key factors in the government’s efforts to reduce holiday spending.

Yellen called Build Back Better, the White House program to help address economic needs in America as it tries to recover from the Covid-19 epidemic.

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