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Yellen: ‘I Was Wrong’ about Inflation, ‘Didn’t Fully Understand’ Supply Bottlenecks
Breitbart ^ | 05/31/2022 | Ian hatchett

Posted on 05/31/2022 5:01:44 PM PDT by ChicagoConservative27

During an interview aired on Tuesday’s broadcast of CNN’s “Situation Room,” Treasury Secretary Janet Yellen admitted that she “was wrong” about inflation and that while “unanticipated and large shocks to the economy” are a part of the reason, she also “didn’t fully understand” supply bottlenecks that have hurt the economy.

Yellen reacted to clips of her downplaying the inflation threat in 2021 by stating, “I think I was wrong then about the path that inflation would take. As I mentioned, there have been unanticipated and large shocks to the economy that have boosted energy and food prices, and supply bottlenecks that have affected our economy badly that I didn’t — at the time, didn’t fully understand. But we recognize that now the Federal Reserve is taking the steps that it needs to take. It’s up to them to decide what to do. And for our part, President Biden is focused on supplementing what the Fed does with actions we can take to lower the cost that Americans face for important expenditures they have in their budgets. Prescription drugs is one example, healthcare costs…utility bills, if Congress is willing to pass some of the proposals to boost the use of nonrenewables, I think that can serve to bring down an important cost that households face. He realizes, we all realize what an important and huge burden inflation is placing on American households.”

(Excerpt) Read more at breitbart.com ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: bidenflation; bottlenecks; econ101; economy; incompetence; inflation; supply; unanticipated; understand; unexpected; yellen
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Well then resign retard. You can't do the job.
1 posted on 05/31/2022 5:01:44 PM PDT by ChicagoConservative27
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To: ChicagoConservative27

She was not wrong...she lied!


2 posted on 05/31/2022 5:05:05 PM PDT by LongWayHome
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To: ChicagoConservative27

FOAD you incompetent moron.

You and the Chief economists of every major wall street type firm are such ass holes.

Your party ideology has left you so narrow minded in your “Hope” that you can see through a keyhole at 100 yards with no better view than the end of your nose.


3 posted on 05/31/2022 5:05:31 PM PDT by Vendome (I've Gotta Be Me https://youtu.be/wH-pk2vZG2M)
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But they all clapped and cheered in our faces when they swore in the first woman Treasury secretary. Thanks.


4 posted on 05/31/2022 5:06:57 PM PDT by proust (All posts made under this handle are, for the intents and purposes of the author, considered satire.)
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To: ChicagoConservative27

Good luck America. Take a look at Argentina. They used to have the same standard of living just like USA during the early 20th Century.


5 posted on 05/31/2022 5:08:00 PM PDT by MinorityRepublican
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To: ChicagoConservative27

Didn’t fully understand basic ECONOMIC theory.

What was her justification for appointment? Does anybody know?


6 posted on 05/31/2022 5:08:43 PM PDT by jpp113
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To: ChicagoConservative27

Communists have no idea how the market works.


7 posted on 05/31/2022 5:08:46 PM PDT by bray (The Vax is fake and deadly)
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To: ChicagoConservative27

Yellen:”You F’d up. You trusted me.”


8 posted on 05/31/2022 5:08:54 PM PDT by D Rider ( )
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To: ChicagoConservative27

> Janet Yellen admitted that she “was wrong” about inflation <

Well, that’s just not acceptable. Economics is your field, lady. It’s okay for a plumber or a taxi driver to get it wrong. But not you. Do the decent thing. Resign and give some other dolt a chance.

Oops! What was I thinking? No one in DC has any shame. Carry on, Janet. Stay in office, and keep racking up those retirement points.


9 posted on 05/31/2022 5:09:26 PM PDT by Leaning Right (The steal is real.)
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To: ChicagoConservative27

resign, shuck, hang her in the public square!

how many lives and fortunes had she schucked, and now its ‘oops myy bad!’
schuck her schucking torso, extinguish her!


10 posted on 05/31/2022 5:09:58 PM PDT by Terry L Smith
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To: ChicagoConservative27

Soon she will parroting Biden on wonder CPI. She is such a putz.


11 posted on 05/31/2022 5:10:02 PM PDT by Jumper ( )
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To: ChicagoConservative27

I remember when we did not wait for people who were incompetent to resign - they were fired.


12 posted on 05/31/2022 5:10:19 PM PDT by bigbob
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To: ChicagoConservative27

Libtard shocked they are Libtard.


13 posted on 05/31/2022 5:10:47 PM PDT by eyedigress (Trump is my President! )
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To: ChicagoConservative27

Turning off oil and gas could not have had any other effect than to cause shortages of supply and therefore higher prices. Apparently Yellen has neve heard of the laffer curve.


14 posted on 05/31/2022 5:10:57 PM PDT by dblshot
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To: ChicagoConservative27

Don’t feel bad Janet. Most Brandonites don’t understand JACK...


15 posted on 05/31/2022 5:11:40 PM PDT by FlingWingFlyer (Don't blame me, I voted for President Trump.)
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To: ChicagoConservative27

“…didn’t really understand…”

Wasn’t really qualified…


16 posted on 05/31/2022 5:12:34 PM PDT by TXBlair (We will not forget Benghazi.)
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To: ChicagoConservative27
Yellen doesn't understand inflation.

Buttigieg doesn't understand supply chains.

Austin doesn't understand strategic withdrawals.

Blinken doesn't understand diplomatic relations.

Granholm doesn't understand energy independence.

Harris doesn't understand English.

Is there a pattern here?

-PJ

17 posted on 05/31/2022 5:14:35 PM PDT by Political Junkie Too ( * LAAP = Left-wing Activist Agitprop Press (formerly known as the MSM))
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To: ChicagoConservative27

She needs to watch more Milton Friedman videos and then get tested for intellectual capacity.


18 posted on 05/31/2022 5:15:14 PM PDT by Paladin2
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To: ChicagoConservative27

Don’t feel bad, Janet. You’re nowhere near as incompetent as your boss.


19 posted on 05/31/2022 5:15:45 PM PDT by TigersEye (I await the return of The Great MAGA King)
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To: MinorityRepublican

“Good luck America. Take a look at Argentina.”

Perhaps you mean Venezuela? That being said there has never been a larger collection of dumbasses running things in the US Government. The bigger problem is they think that they are all geniuses.


20 posted on 05/31/2022 5:18:32 PM PDT by 43north (My pronouns: Grumpy, old, man)
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