Free Trial

Yellen To Warn Of Supply Chain Risks In Major Inflation Reduction Act Speech

US

Treasury Secretary Janet Yellen is shortly due to deliver ‘major remarks’ on the Inflation Reduction act in Las Vegas, Nevada – likely a key battleground state in the 2024 presidential election.

  • According to prepared remarks issued by the Treasury Department, Yellen will say the IRA has, "helped drive a massive boom that is touching every corner of the country.”
  • Yellen will argue: "The explosion in U.S. factory construction is a uniquely American story: one that we do not see replicated in other peer countries.”
  • Yellen will also warn of supply chain risks as the US continues a transition to clean energy: “As we move away from fossil fuels, we remain concerned about the risks of over-concentration in clean energy supply chains. Today, the production of critical clean energy inputs… is concentrated in a handful of countries. It’s important that we build resilient and diversified critical global supply chains...”
  • Yellen’s speech will kick off a week of nationwide publicity by Biden cabinet members with events planned in nearly a dozen states to be held to mark the one-year anniversary of signing the Inflation Reduction Act.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.