Posted on 10/24/2022 4:22:14 PM PDT by ChicagoConservative27
During a portion of an interview with NBC News released on Monday, Treasury Secretary Janet Yellen said she’s confident that “inflation will come down over the next year or two,” but while there are “good indications” that inflation will decline, she isn’t certain that inflation has peaked and doesn’t want to predict inflation numbers on a month-by-month basis.
Yellen stated, “I have confidence that inflation will come down over the next year or two, so I believe that what [the Federal Reserve is] doing will work.”
(Excerpt) Read more at breitbart.com ...
Bought a dozen eggs at the Dollar General store 2 days ago @$ 3.50.
Looked up the price in 2020 under Trump (from a grocery store website) it was average $1.52.
That isn’t even close to the often touted 8%…that is 43% per year inflation or thereabout.
1 cardboard small size can of dried Quaker Oats was marked on sale (1 pound 2 oz) for $5.45. (Don’t know what it’s was under Trump)
> So, what will Biden do the next 2 years? His current game plan (assuming he even has one) certainly isn’t working.
Imho if the past is any prologue, biden will announce more loan forgiveness, rent forgiveness, eviction control, increase WIC, EBT, EITC, and so on. In short, more income redistribution.
One category is on track to suffer more: private pensioners. they will suffer from reduction in pension benefits along with cost of living inflationary increases. a trickle of pension income will prevent them from collecting EITC and other forms of welfare.
Will any intrepid reporter corner biden and ask him about the effects of his economic plan on senior citizens? whether he cares at all, or is impoverishing seniors just a premeditated part of his plan? must senior citizens all switch their retirement investment strategy to hedge funds and shorts?
the RATE of inflation will come down, just not the current prices...
The one talent I’ll concede to the DemocRATs is that of having the complete inability to select competent persons to do ANYTHING considered useful by an advanced society. And let us remember and record the so-called universities that actually allowed that collection of fools to purchase their degrees. Yes, those degrees had to be purchased because none could come even close to earning them.
Yellen: ‘Not Positive’ Inflation Has Peaked, It Will ‘Come Down over the Next Year or Two’
—
I thought inflation was transitory? But I suppose a year, or two, or three is transitory on a larger scale.
when she says “i dont know”
i believe her
all other times
no
How did Yellen get so far up in life?
Oh, thanks a lot.
...they might well be underground....they’d none of them be missed. (The Mikado)
Price of diesel fuel is contributing to inflation and prices. There is shortage of diesel. Keystone pipeline would have supplied the type of crude which is suitable for production of diesel fuel.
If we get a change in admin in 2024, and it executes policies to increase supply of diesel, it COULD bring prices of items down. Every truck delivering goods runs on diesel.
I’m 73 biatch!! I can’t be wasting time with your screwup. I’m trying to enjoy my “golden retirement years” and you commie bass turds are screwing them up, MoFos.
‘
Lots of seniors have lots retirement savi gs and have to get food stamps. It sucks to have to do that.
“I think he’s wrong, I don’t think we’re about to lose control of inflation,” she said, although she agreed that the US is going through a period of inflation that is higher than before. “It’s something that’s obviously a concern and worrying them, but we haven’t lost control.”
She’s nuts. When we hit the wall on fossil fuels right after the election prices are going to go hyperbolic. We have fuel rationing already in New England and we’re just going in to the heating season. I bought diesel fuel Saturday at $5.79 a gallon. Two weeks ago it was $4.49. Fuel prices are going to spike big time IMHO and that’s going to precipitate a cascaded of inflationary events and shortages. Too many dollars chasing too few goods. These people are a Gong Show.
The price of diesel has been high for a long time which doesn't cause inflation but inflation of prices. Also inflation in itself has caused diesel to rise as well so there are two reasons for the high prices - terrible energy policy and inflationary spending - both caused by the government (and Americans in general because we vote for more and more government spending). But to the consumer they don't care in a sense what is to blame for higher prices because either way it causes them serious pain.
What I liked most about your post is that you said it COULD bring prices down. Fuel surcharges, pallet charges and other fees added to deliveries very rarely go away easily. Only after a trucking outfit is getting beat badly by the competition or severe slowdown in shipments will cause the trucking prices to drop to generate some business.
Yup
It took about 4 tough years before inflation came down under Volker.
Same idiot that said inflation was transitory.
Especially if we get rid of the Demoncrats and Pezident Poopy ASAP.
OK, gramma, whatever you say.
{I told you to lock her door when the orderlies are busy elsewhere.}
Unreal to say this is somehow a positive. It’s “peaked” - meaning our costs are *only* going to continue to be increasing by 8% instead of 9%? And for years?
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.