Yellen: ‘I Was Wrong’ about Inflation, ‘Didn’t Fully Understand’ Supply Bottlenecks

Breitbart ^ | 05/31/2022 | Ian hatchett

[for-q-clinton]

She should resign in disgrace.

[Nifster]

No kidding. The rest of us understood

[RedMonqey]

Her VaJay was her main reason.

Aren’t you so proud to have the first woman Treasury sec,?

[Repeal The 17th]

Peter Principle
...has risen to their level of incompetence...

[central_va]

Mistakes were made.

[Ken H]

“…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.”

---

Nonrenewables??? Like oil and gas and coal?? We’re teetering on the brink of a global climate catastrophe and she’s talking nonrenewables!!

[Jyotishi]

“I was wrong”

You are FIRED!

[dfwgator]

Jack Nicholson was right. “I think of a man, and then I take away reason and accountability.”

[MinorityRepublican]

Perhaps you mean Venezuela?

That's an extreme case of hyperinflation. Venezuela is dependent on oil and never tried to diversify their economy. You could argue that Argentina was a first world nation before WWI.

[Secret Agent Man]

She knows full well what shes doing and did. Liar.

[TigersEye]

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.

Too complicated for Janet. She needs to watch Being There.

When you stop watering the garden the ground will dry out.

[Freedom4US]

By her comments, apparently she still doesn't understand "inflation". Monetary inflation always results in higher prices, however not all price increases are due to inflation of the currency. Good old supply and demand here, aka "bottlenecks" in the supply chain, will mean higher costs. Completely and totally unrelated things. A lot of the experts on the TV want people to believe monetary inflation is some really complicated bugaboo that just falls out of the sky or something. Since we are experiencing both supply shocks and a devalued dollar it is becoming extremely worrisome to ordinary citizens. Spoiler: they can't do $&@t about either, and it will likely get much worse.

[Sacajaweau]

You just don't get it.

You're the fall guy. When did you get the memo from Brandon?

[Caipirabob]

Damned imbecile. The horrific financial damage she has enabled will cause hundreds of millions to suffer.

[philman_36]

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.

Translation - We don't know what the hell we're doing so
we're letting someone else come in and fix things.

And they're going to "laser focus on addressing inflation".

[Right_Wing_Madman]

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

[SteveH]

unanticipated is the new unexpected

[philman_36]

Is there a pattern here?

Yep, "doesn't understand" comes up several times.

[KevinB]

didn’t fully understand

That should be the Dem motto.

[frogjerk]

The more we get away from Dr. Friedman and his brilliance the more we will suffer.