Yellen announces $100 million affordable housing fund as shelter costs weigh on Biden

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 came 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 latest consumer price index report found overall inflation stayed flat in May while shelter inflation rose 0.4%.