WELL, IT IS AN ELECTION YEAR: Yellen announces $100 million affordable housing fund as shelter costs weigh on Biden.

“I expect that shelter inflation will moderate,” Yellen said at a speech in Minneapolis Monday afternoon. “But we face a very significant housing supply shortfall that has been building for a long time and this supply crunch has led to an affordability crisis.”

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’s speech was part of a multi-day tour around Minnesota, that includes lunching with CEOs and holding roundtables with state housing officials.

While the president hunkers down at Camp David to prepare for Thursday’s debate, Yellen is among a slew of cabinet members who are making the rounds nationwide in an effort to promote the president’s economic agenda.

Biden got everything he wanted in his first two years. How’d that work out for ya?