Posted on 06/10/2022 8:59:29 AM PDT by American Number 181269513
U.S. Treasury Secretary Janet Yellen said on Thursday she did not expect the U.S. economy to tip into a recession, but growth would "absolutely" slow down and gasoline prices were unlikely to fall anytime soon.
"I don't think we're (going to) have a recession. Consumer spending is very strong. Investment spending is solid," she told a New York Times Dealbook event.
"I know people are very upset and rightly so about inflation, but there's nothing to suggest that a ... recession is in the works." Yellen, who last week conceded she had been wrong about predicting inflation would be transitory, told the event she would not change U.S. policy decisions if she could go back in time.
"I wouldn't do it differently," Yellen said, saying President Joe Biden's signature $1.9 trillion American Rescue Plan was needed to prevent a generation of Americans suffering from high unemployment rates.
"Things can always happen that you don't expect. The world's very uncertain," she said.
Combating inflation was President Joe Biden's top priority, Yellen said, adding she did not expect gasoline prices, which just reached $5 a gallon, to come down anytime soon.
She said American households were clearly concerned about surging pump prices, which played a key role in shaping consumer expectations, but it was "amazing" how pessimistic Americans were about the economy given the fact that the United States now had the strongest labor market since World War Two.
Biden had done "what he can do" to address high gasoline prices by directing an historic drawdown from the Strategic Petroleum Reserve, Yellen said. She added that U.S. officials would also keep tightening sanctions aiming at punishing Russia and getting it to stop the war in Ukraine.
(Excerpt) Read more at reuters.com ...
Uh, that’s what drives a recession moron.
Yellen, who last week conceded she had been wrong about predicting inflation would be transitory, told the event she would not change U.S. policy decisions if she could go back in time.
She admits she was wrong but if given a chance to do it over would not change a thing and be wrong again.
Yellen said, “it was "amazing" how pessimistic Americans were about the economy”
Growth will slow, inflation is raging, gas prices are high and although she did not expect the U.S. economy to tip into a recession a recession is on the table. But she finds it "amazing" how pessimistic Americans were about the economy.
Is it any wonder why we are in deep, very deep trouble?
Two negative quarters is the definition of a recession.
Or is that old school Economics?…
Yellen sez a recession unlikely and inflation is transitory.
Women take zero accountability.
Never believe anything until the government denies it.
Yellen, you stupid little twit, WE ARE THERE.
“it was “amazing” how pessimistic Americans were about the economy”
That is only because we do not appreciate the brilliance of der Biden Fūhrer.
“My judgment right now is that the recent inflation that we have seen will be temporary. It’s not something that’s endemic.” (May 2021)
“We have in recent months seen some inflation … But I personally believe that this represents transitory factors.”(June 2021)
Janet Yellen
Truth be actually told, we are already in recession and fast heading for a depression.
YellenIdiot is senile.
Well, it IS transitory. It won’t last until the end of time, after all.
So reassuring. She oozes confidence and certainty.
I can relax now, and worry no more about Recession.
“Yellen said, “it was “amazing” how pessimistic Americans were about the economy.”
Yea, well $6.00 a gallon gas will do that b
L
What she lacks in intelligence she makes up for with purposeful Democrat destruction.
‘Rat caused structural issues are at the root of all of this.
The sooner the ‘Rat voters get this through their simple skulls the sooner it’s over.
A wise saying.
Yellen is a Maoist idiot (Berkeley econ!) who believes in the all-powerful Federal government. She lies constantly like Biden. An honorary Hillary Clinton!
(Truth be actually told, we are already in recession and fast heading for a depression.)
That’s what I’m afraid of.
It’s here. /Twister movie
It’s coming right for us!
But it’s really no joking matter, truth be told
Filthy rich lefties never understand why gas reaching $5 per gallon upsets us peasants.
Yellen also said inflation was “transitory” and that women killing their unborn children was good for the economy.
I heard a stretch of her recent testimony. Grotesque. She is a dithering doddering old woman who has forgotten whatever she ever knew about the economy. Any reasonably bright high school kid could have replaced her without losing any information in the process.
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