Posted on 06/19/2022 1:54:31 PM PDT by Browns Ultra Fan
US Treasury Secretary and former Federal Reserve Chain, Janet Yellen, admitted on ABC’s This Week that US inflation is “unacceptably high”and prices are likely to stick with consumers through 2022, and that the US economy is likely to slow down.
“We’ve had high inflation so far this year, and that locks in higher inflation for the rest of the year,” she said Sunday on ABC’s “This Week.”
“I expect the economy to slow,” she said, adding: “But I don’t think a recession at all inevitable.”
US inflation accelerated to 8.6% in May, a fresh 40-year high that signals price pressures are becoming entrenched in the economy. Those figures dashed any hope that inflation was starting to ebb, prompting the Federal Reserve to unleash its biggest interest-rate increase since 1994.
Hey, I thought strangling the US mortgage market and housing markets was supposed to cool the inflation rate, Janet.
On the good news/bad news front, cryptocurrency Bitcoin fell to $17,600 earlier today before rebounding to above $20,000 as the expectation of further Fed rate increases diminished (Yellen admitted the economy is slowing).
Yellen ignored rising mortgage rates which is putting a chokehold on the US housing market.
Hey Janet! So you are admitting that Biden’s energy policies AND massive Congressional spending bills ARE helping to drive prices through the roof and that Fed rate increases won’t tame the savage inflation beast?
(Excerpt) Read more at confoundedinterest.net ...
I hope there isn’t a recession, but everybody believes we are already in one. Therefore, it doesn’t matter what the real numbers are. The Dems are hosed.
When did they try monetary tightening?
Monetary tightening could be the answer.
However it will work only if they get the rates into double digits. They are doing too little too late!
I don’t see how we avoid a recession
If I were Zhe Zhe Ping, I'd advance into Taiwan on the Friday before the 30th and hope I could take care of business before the following Monday. Control the skies, knock out Taiwan's missile defenses while blockading the island and land an expeditionary force(s) to drive inland and secure radio and televison stations.
I would tell Taiwan as well, any weaponry directed at mainland China risks a tactical nuclear response.
Biden wouldn't know what hit him. He'd be in Delaware riding his bicycle and eating ice cream cones - oogling preteen Tik Tokkers
“But I don’t think a recession at all inevitable.”
Yellen is lying again just like when she said inflation is “transitory”.
I would tell Taiwan as well, any weaponry directed at mainland China risks a tactical nuclear response.
—
I can’t see any fallout from that maneuver. / sarc
Land troops.
Sounds easy doesn’t it?
They would be be able to walk from China on the floating corpses of Chinese troops before they landed a soldier on the island.
Yeah, the signs are there. The Biden admin us trying to cook the quarterly GDP books even as we speak.
Possibly true but you don't know that as a fact. That's just a pipe dream for you.
Granted though, if it did come to pass, by that time there wouldn't be anything left on Taiwan that was more than a quarter of an inch high.
Granted though, if it did come to pass, by that time there wouldn’t be anything left on Taiwan that was more than a quarter of an inch high.
—
...and then what? Inherit a radioactive wasteland?
Cranking the interest rates (barely begun) takes 6-12 months to work itself downstream. Inflation is baked in through mid-2023 at least. So, expect to see another 20-25% decline in purchasing power.
I used all my bitcoins to buy tulips.
Tulips are very safe.
They use bloomchain technology.
Yellen has been wrong on so many of her predictions, I will file her opinion in the circular can.
Not if you buy Bitcoins with your cash and Bitcoins go up 50%. /S
A Recession is two quarters or Jan, Feb, Mar, & Apr, May, Jun in our case. If they actually used six months we would be there already. Biden and his team are trying to convince the media that we a 0.2 growth in GDP... but it based on negative quarters and not months so a up month during a quarter does not prevent a negative quarter from counting towards a recession.
You might want to drop a hundred bucks on Bitcoin now. Then you tell us how wise you were six months from now when it pays a month of your gas and food;)
Janet Yellen is a big disappointment. Everybody talked her up as though she was something special but she falls flat on her face and shames her family. Just another Biden stooge.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.