Yellen Critiques Trump's Economic Policies

(Reuters) – The economic policies proposed by Republican presidential candidate Donald Trump are set to fuel inflation and harm businesses, U.S. Treasury Secretary Janet Yellen plans to warn in an upcoming speech, as reported by the New York Times on Thursday.

Yellen's critique will be delivered in remarks to the Council on Foreign Relations. Although she is not expected to mention Trump by name, she will argue that the broad tariffs supported by the former U.S. President and some Republicans in Congress would damage the U.S. economy, according to the New York Times, which obtained Yellen's speech.

> "Sweeping, untargeted tariffs would raise prices for American families and make our businesses less competitive," Yellen plans to state.

Trump has emphasized tariffs and tax cuts as key elements of his economic pitch to voters, many of whom view the economy as the most significant issue in the upcoming 2024 presidential election.

Defending his trade policies and fiscal proposals, Trump stated in an interview with Bloomberg News editor-in-chief John Micklethwait on Tuesday that his trade strategies—calling for expensive tariffs on goods from both rivals like China and allies like the European Union—would revitalize American manufacturing and generate enough revenue to address concerns about rising deficits.