Yellen Says Chips, Research Investments Will Boost US Economic Capacity

Yellen Says Chips, Research Investments Will Boost US Economic Capacity
Treasury Secretary Janet Yellen speaks at a news conference during the Annual Meetings of the International Monetary Fund and World Bank in Washington on Oct. 14, 2022. Elizabeth Frantz/Reuters
Reuters
Updated:

HERNDON, Va.—Treasury Secretary Janet Yellen said on Friday that domestic investments in semiconductors and research would help reverse a longstanding innovation deficit and increase the productive capacity of the U.S. economy.

Yellen, speaking at a business incubator in the Washington area’s Dulles technology corridor, said that the U.S. lead in technology innovation has increasingly come under threat from China and other competitors.