Scoop: Yellen's urgent warning on threats to U.S. democracy

Treasury Secretary Janet Yellen will use a speech to the McCain Institute in Arizona on Friday to deliver a clear warning about the economic dangers presented byBut the Biden administration wants to tell voters — and Wall Street — that a second Trump administration would have economic risks.

The business community has been getting comfortable with the idea of a Trump win in November. Jamie Dimon, the chair and CEO of JP Morgan Chase"I admit that this doesn't seem like typical terrain for a treasury secretary," Yellen plans to say at her speech in Sedona, according to excerpts obtained by Axios.

Biden advisers are frustrated by a phenomenon they call "Trump amnesia" — in which many voters seem to forget the last year of Trump's presidency and his response to COVID-19.In a reference to Trump's plans to dramatically increase presidential powers, Yellen will make a broad historical argument — with references to East Germany — on how autocratic regimes stifle economic growth.

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