Posted on 02/17/2022 2:44:14 PM PST by algore
Treasury Secretary Janet Yellen has admitted soaring US inflation is 'not acceptable' - then insisted the American economy would be even worse were it not for the very spending by the Biden administration that has been blamed for soaring prices.
Speaking to AFP, Yellen said of the rise in cost of living - which hit 7.5 per cent last month: 'Inflation is clearly a great concern to Americans, and it really needs to be addressed.
'Certainly it's not acceptable to stay at current levels.'
Her words were in marked contrast to Joe Biden's, who has repeatedly insisted that surging inflation figures are 'elevated,' and a temporary phenomenon.
Yellen - who is America's first female treasury secretary - claimed she was confident the Federal Reserve would ride to the rescue after the cost of living last month rose by the highest amount since February 1982.
She said: 'I have confidence the Fed... (will) deploy their suite of tools in an appropriate way to keep the recovery on track, but also deal with the excess pressures that we have that are causing inflation.'
The 'suite of tools' Yellen is referring to are almost certain to include rises in interest rates, which discourage consumer spending and cool the economy down.
But those rises will result in higher repayments for mortgages and loan repayments, hurting millions of ordinary Americans.
They're also likely to crater demand for goods and services, and could spell doom for firms still on the brink of failing post-COVID.
(Excerpt) Read more at dailymail.co.uk ...
lol...
Then I guess more spending will make it even better! Am I right, Aunt Janet?
Never go full potato….
Can you imagine being suck a f*cking tool that you go out and say this out loud? She knows that is bullsh*t but says it anyway.
He needed the spending to mitigate his frontal assault his policies on the rest of the economy. You don’t get to claim you bailed out the economy when you INTENTIONALLY WRECKED IT in the first place. . . .
Inflation isn’t a hidden tax on the wealthy — which I suspect she is.
So when are middle-class taxpayers supposed to reap the benefits of this lavish spending? Enquiring minds want to know.
Janet Yellen is an idiot.....
Such seemed right....but suck was way better!!!!
What an idiot. Biden has done nothing but implement policies to increase inflation.
This is coming from the same Biden administration that is always complaining about misinformation.
Without Biden’s non-sense economic shutdowns, lack of protections of US workers and industry, destroying oil and gas production, and mandating farmers burn crops in the fields, we wouldn’t need lavish government spending. IE, without Biden the economy wouldn’t need lavish spending and out of control inflation.
I guess the Fed is stupid enough for us to believe that Bidenomics is working, and they didn’t try to destroy Trumps economy with interest rate hikes every quarter.
Nothing but a stupid -itch.
I see they're still spinning this bullsh*t 7.5% number.
Try multiplying that by about four to see the real rate of inflation.
Inflation is no more transitory than Biden’s dementia!
Liberals are absolutely some of the most stupid, uneducated, loathsome excuses for humanity ...... ever.
That’s Captain Kangaroo
Did anyone ask how we’d be if the government didn’t shut down the economy?
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