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Message
Janet Yellen concedes she misread threat of inflation
Posted on 6/1/22 at 8:45 am
Posted on 6/1/22 at 8:45 am
quote:
"I think I was wrong then about the path that inflation would take," Treasury Secretary Janet Yellen said in an interview on CNN.
Yellen in March 2021 said inflation posed only a "small risk." Two months later, she said she didn't anticipate inflation would "be a problem." Earlier that spring, Biden signed his $1.9 trillion COVID-19 rescue plan into a law, providing a boost in spending that his critics blame for accelerating inflation.
"As I mentioned, there have been unanticipated and large shocks to the economy that boosted energy and food prices, and supply bottlenecks, that have affected our economy badly that I, at the time, didn't fully understand," Yellen told CNN. "But we recognize that now."
LINK
This would be hilarious if it wasn't so depressing.
58
Posted on 6/1/22 at 8:46 am to stout
JY is a moron and was hired bc she fit the Dem mold
Posted on 6/1/22 at 8:46 am to stout
Almost as good as a meteorologist. Almost
Posted on 6/1/22 at 8:46 am to stout
Everybody with a brain knows printing money causes inflation
She knew. But this is all by design. She wants the great reset as well.
She knew. But this is all by design. She wants the great reset as well.
Posted on 6/1/22 at 8:46 am to stout
Person in charge of fighting inflation "did not anticipate" record inflation that every non-partisan person with a brain in their head could see coming due to basic economics.
Its almost as if it was political.
Its almost as if it was political.
Posted on 6/1/22 at 8:47 am to stout
Everything this admin has touched has turned to shite.
Last night my daughter asked me if all dads were angry about gas.
I told her yes. Man I miss that Orange MFer
Last night my daughter asked me if all dads were angry about gas.
I told her yes. Man I miss that Orange MFer
Posted on 6/1/22 at 8:47 am to stout
LOL. She knew. They all knew.
Everyone keeps saying this "administration" is clueless. I disagree: They are doing EXACTLY what they set out to do. Biden even stated in his campaign what he was going to do. Anyone with a brain knew this would be the result.
Everyone keeps saying this "administration" is clueless. I disagree: They are doing EXACTLY what they set out to do. Biden even stated in his campaign what he was going to do. Anyone with a brain knew this would be the result.
Posted on 6/1/22 at 8:48 am to stout
First year Econ students could have told you what was going to happen 
Posted on 6/1/22 at 8:48 am to stout
So far, Brandon's administration has misread the Afghan bugout, the Chinese Flu/vaccines, abortion, the 2nd amendment, the Ukraine giveaway and now inflation. They're off to a rip-roaring start.
Posted on 6/1/22 at 8:49 am to stout
quote:
I, at the time, didn't fully understand
Looks like she learned her lesson, and that's all we can ask for our bureaucrats. We're in good hands from here on out!
Posted on 6/1/22 at 8:49 am to fr33manator
Mostly just “wives boyfriends” are upset
These guys are too busy waiting on their next booster shot
These guys are too busy waiting on their next booster shot
Posted on 6/1/22 at 8:49 am to Cosmo
quote:
Everybody with a brain knows printing money causes inflation
Worst thing is does is creates larger wealth gaps. People with assets make money in inflationary environments, you know who has assets? Rich people.
So the rich take gains as their assets appreciate and the poor become more cash flow strapped. This is simple shite
Posted on 6/1/22 at 8:50 am to stout
She lies just like all democrats
Posted on 6/1/22 at 8:50 am to stout
That's what they do.
"Whoops we were wrong, sorry!"
And then idiots just believe them.
"Whoops we were wrong, sorry!"
And then idiots just believe them.
Posted on 6/1/22 at 8:51 am to stout
quote:
"As I mentioned, there have been unanticipated and large shocks to the economy that boosted energy and food prices, and supply bottlenecks, that have affected our economy badly that I, at the time, didn't fully understand," Yellen told CNN. "But we recognize that now."
Bull. Any high schooler in an introductory econ class would understand this. Just stop the lies.
Posted on 6/1/22 at 8:51 am to stout
She didn’t misread it. This shite was intentional. They want more people’s lives dependent on the government
Posted on 6/1/22 at 8:52 am to stout
TBH, I don't even believe that
I think they thought they could control the narrative and keep calling it transitory inflation even when it wasn't. But obviously the reality outran it and they lost complete control of the narrative.
I think they thought they could control the narrative and keep calling it transitory inflation even when it wasn't. But obviously the reality outran it and they lost complete control of the narrative.
Posted on 6/1/22 at 8:54 am to stout
quote:
I, at the time, didn't fully understand,"
You’re the fricking treasury secretary.
Posted on 6/1/22 at 8:54 am to stout
Reminds me of this scene in the big short:
Of course she knew. They all knew.
Of course she knew. They all knew.
This post was edited on 6/1/22 at 8:55 am
Posted on 6/1/22 at 8:54 am to Fun Bunch
quote:
Person in charge of fighting inflation "did not anticipate" record inflation that every non-partisan person with a brain in their head could see coming due to basic economics.
Wonder who will be fired over this? Oh right..... It's the gov't. No one will.
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