Treasury Secretary Janet Yellen on Monday unveiled a new slate of financing initiatives to support housing development, including a $100 million fund specifically for affordable housing. The announcement comes days before President Joe Biden faces off against former President Donald Trump in the first presidential debate, where inflation is likely to be a key point of contention. The past several inflation reports have shown prices slightly cooling off, but shelter costs have remained persistently hot. The June consumer price index found overall inflation stayed flat in May, even while shelter inflation rose 0.4%. As part of its new actions, Treasury will provide $100 million over the next three years to finance affordable housing projects. It is also calling on several agencies that help finance housing to bolster their support for new development. Yellen will deliver formal remarks about the housing initiatives in Minneapolis later Monday. The speech is part of a tour around Minnesota, where she is lunching with CEOs and holding…
