Remarks by Secretary of the Treasury Janet L. Yellen in Stafford County, Virginia

As Prepared for Delivery Thank you for joining me here today. President Biden’s American Rescue Plan was enacted in March 2021, in the depths of the COVID pandemic. It provided much-needed support to states, cities, and counties. They used that support to address their citizens’ urgent needs: from expanding public health services to keeping people housed and businesses open. The American Rescue Plan’s support drove a historic recovery. But beyond that, along with the trifecta of legislation we’ve passed since—the Bipartisan Infrastructure Law, the CHIPS and Science Act, and the Inflation Reduction Act—the ARP is fueling investments that will boost our economy’s prospects over the medium- and long-term. Today, Americans are seeing the economy expanding, a healthy labor market, and inflation that has come down significantly from its peak.