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Yellen says enacting Biden’s agenda is key to keeping U.S. the ‘world’s pre-eminent economic power’

Janet Yellen, U.S. Treasury secretary, arrives at a Eurogroup meeting of European Union (EU) finance ministers in Brussels, Belgium.

Bloomberg | Bloomberg | Getty Images

Treasury Secretary Janet Yellen will warn on Wednesday that enacting President Joe Biden’s economic agenda is critical to maintaining America’s status as the world’s top economic superpower, according to a copy of her remarks obtained by CNBC.

Yellen will deliver the address in Atlanta as part of a White House messaging blitz designed to rally the public behind the trillion-dollar bipartisan infrastructure bill and Democrats’ even bigger $3.5 trillion spending plan. It will be her first domestic trip and a reflection of her increasingly visible role as one of the administration’s champions for expansive investments in so-called “human capital.”

“We’ve grown used to America as the world’s pre-eminent economic power. We aren’t destined to stay that way, but with these investments, I believe we will,” Yellen said in her prepared remarks. “We have a chance now to repair the broken foundations of our economy, and on top of it, to build something fairer and stronger than what came before.”

Her comments come at a critical moment in negotiations with Capitol Hill