US Treasury Secretary Yellen said that American families have faced the burden of high living costs for a long time. The surge in inflation we've seen during the pandemic underscores this. But this is actually a problem that existed long before that. What I'm thinking about is insufficient housing supply and high housing costs. Of course, during the pandemic, we experienced higher interest rates and sharp increases in housing prices, making an already bad situation worse. Childcare is becoming increasingly difficult to afford, systems are difficult to operate, and health care costs and energy prices are high. As a result, we recognize that even if inflation has now almost fallen back to the Federal Reserve's target, these are still burdens plaguing American households.

US Treasury Secretary Yellen said that American families have faced the burden of high living costs for a long time. The surge in inflation we've seen during the pandemic underscores this. But this is actually a problem that existed long before that. What I'm thinking about is insufficient housing supply and high housing costs. Of course, during the pandemic, we experienced higher interest rates and sharp increases in housing prices, making an already bad situation worse. Childcare is becoming increasingly difficult to afford, systems are difficult to operate, and health care costs and energy prices are high. As a result, we recognize that even if inflation has now almost fallen back to the Federal Reserve's target, these are still burdens plaguing American households.