Yellen: Inflation Has Been ‘Quite Low for the Last Six Months’
Yellen said, “Inflation has really been quite moderate, quite low for the last six months or so, importantly, because of lower energy prices. We continue to see improvement in supply chains. Goods prices have actually been falling. And some of the supply chain issues that pushed up the prices of goods and commodities, those have really turned around. Rent indexes continue to rise. But, really, we see those coming down substantially over the next six months or so.”
Clueless or evil or both?
What about eggs, Janet? And most food prices have risen 15% in the past six months.
Hey, I'm not a filthy rich government big wig who probably has someone shopping for them, what do I know?
Inflation has to come down at some point, but the prices of goods and services remain high. It will take years to return to 2% inflation, if ever. Government spending is running amok negating the Fed’s interest rate hikes. We are now spending over $500 billion annually to service the national debt. Pretty soon it will equal defense spending.