Treasure Secretary Janet Yellen, spoke before the Senate Banking Committee today to testify at “The Financial Stability Oversight Council Annual Report to Congress”.
While speaking before the committee, Yellen pointed out the long-term impact of overturning Roe v Wade. She claimed that denying access to abortion would have damaging effects on the economy while setting women back decades.
“What we're talking about is whether or not women will have the ability to regulate their reproductive situation in ways that will enable them to plan lives that are fulfilling and satisfying for them,” she said.
Abortion gives women the chance to plan and balance their careers and families. According to Yellen, the feeling that a woman has the financial resources to raise a child and that the child is wanted in this world gives her satisfaction and has a favorable impact on her well-being.
In many cases, abortions become necessary for teenage mothers, particularly those belonging to the low-income group and the Black community. It helps them to terminate unexpected pregnancies and continue with their education which would later help them to join the workforce. So, in the end, it leads to increased labor force participation.