Captain Obvious Award Goes To … Treasury Secretary Yellen Who Admits “High Prices Here To Stay” (Food CPI UP 21%, Gasoline Prices UP 38% Under “Inflation Joe”, Home Prices UP 33.2%, Mortgage Rates UP 154%)

Confounded Interest ^ | 01/30/2024 | Anthony B. Sanders

[Kaiser8408a]

Treasury Secretary Janet Yellen just admitted what the rest of Americans already knew: high prices are here to stay. Example? Food prices (CPI) are up over 20% under Inflation Joe while gasoline prices are up 38% under Clueless Joe.

On the housing front, the Case-Shiller National Home Price Index is up 33.2% under Biden. And Freddie Mac’s 3-year mortgage rate is up 154% under Biden’s leadership (c’mon man! Obama is pulling the strings on Puppet Joe).

Speaking during an interview with ABC News Live over the weekend, Treasury Secretary Janet Yellen admitted prices aren’t going down, contradicting arguments repeatedly made by the Biden White House about easing inflation. In 2021, Yellen claimed inflation was “transitory.”

During a briefing at the White House last week, Press Secretary Karine Jean Pierre had trouble explaining complaints from Biden when he purchased a smoothie that cost $6.

“Last Friday, the president was at a coffee shop in Pennsylvania, and he seemed to be surprised that the smoothie was $6 and how expensive it was,” a reporter asked. “I’m curious. So is the president now realizing the costs that Americans are bearing?”

“So, look, when he went over to you all, to the press corps, he was having a good time, right? And offered, as you know, offered to buy them coffee,” Jean Pierre responded. “There was a big group there, and he made sure everyone got coffee and pastries. So I just want to make that really clear.”

That is wonderful, KJP! The White House Press Corps got free coffee and pastries! Yippee!!!

But the rest of us in America are suffering from Bidenomics and inflation. Like food prices having risen 21% under Biden, gasoline prices UP 38%, home prices UP 33.2% and mortgage rates UP 154%.

Yellen wins the Captain Obvious Award.

[Made In The USA]

The Left will have us believing that Bidenomics is an accomplishment...

[paulcissa]

I’m sure Yellen doesn’t realize the cost of her Psilocybin mushrooms have gone up significantly.

[teeman8r]

didn’t trump destroy obama’s new normal of higher prices ?

[Freedom_Is_Not_Free]

What is sad is, how many normal people believe that low inflation means prices will come back down to 2019 levels. They don’t understand that inflation causes a new bottom on prices, forever and ever going forward.

They don’t understand the compounding effect either. When you have 20% inflation, a future inflation rate of 5% is now on that 120% prices you are paying in 2024 vs 2019. So the 5% inflation acts like a 6% inflation relative to 2019.

[circlecity]

And remember “core” inflation numbers leve out food and energy prices.

[bigbob]

Yellen is not

[ProudDeplorable]

Below was Obama's response when the economy was stagnating under his regime:

“Well, how exactly are you going to do that? What exactly are you going to do? There’s no answer to it,” Obama said. “He just says, ‘Well, I’m going to negotiate a better deal.’ Well, what, how exactly are you going to negotiate that? What magic wand do you have? And usually the answer is, he doesn’t have an answer.”

Four years later, Trump did make the economy better and it just shows that the leadership makes a difference. Obama was ready to just throw in the towel because a faltering economy is exactly what he wanted.

[OpusatFR]

Our first house was a spacious duplex with two bedrooms in the downstairs unit and one huge bedroom in the second. Each had a full kitchen and bath.

It was $19K

It sells today for $300K in a now less than desirable area.

Inflation continues to build. It NEVER stops. It never goes down.

[millenial4freedom]

but these people are more accepting of the notion that men can have vaginas. Isn’t that a good trade-off? /s

[I want the USA back]

Inflation is built into the system. The federal government makes inflation happen. It has as its “goal” a 2% annual rate of inflation.

[Dan C]

I’ll go out on a limb and predict that the spin they’ll use on the campaign trail is to talk about how much worse things would have been if the former vice president hadn’t taken bold, decisive action.

[GOPJ]

...food prices having risen 21% under Biden, gasoline prices UP 38%, home prices UP 33.2% and mortgage rates UP 154%.

Yellen wins the Captain Obvious Award.

The corrupt press will buy the story and explain how 'the rate of increase' is down... attempting to fool 'the deplorables' and their own sheep. Must be nice to have the press in your back pocket.

[srmanuel]

Didn’t Yellen tell us a couple of years ago that inflation was transitory ??

[dagunk]

Food 20%?
My numbers:
2020 - $5367
2023 - $8767
Food up 63% out in my world....

[NWFree]

The price of her psychedelic mushroooms went up and she noticed

[Vaduz]

It is for Xi and Putin the see easy pickings coming down the pike.

Biden will go down in history as a country killer.

[frogjerk]

[mewzilla]

Property tax states will live this news.