Yellen says Biden economic plan to spread growth across more 'places and races'

U.S. Treasury Secretary Janet Yellen speaks as U.S. President Joe Biden holds a meeting with business leaders and CEOs about the debt limit at the White House in Washington, U.S., October 6, 2021. REUTERS/Kevin Lamarque

WASHINGTON, March 4 (Reuters) – U.S. Treasury Secretary Janet Yellen said on Friday the Biden administration’s economic agenda will not only expand the productive capacity of the U.S. economy, but can propel faster growth by reducing economic and racial disparities.

In remarks to a Stanford University economics conference, Yellen provided more details on the approach she has branded “modern supply-side economics,” which incorporates the key elements from the Biden administration’s “Build Back Better” agenda: investments in child care, education, job training, infrastructure and healthcare.

Despite a strong recovery from the COVID-19 pandemic,…