Treasury Sec Janet Yellen tells Wolf she was wrong on the path inflation would take, after saying in 2021 she didnt think inflation would be a problem

[Resnic]

I'm surprised she didn't try to blame it on racism or maga also. I mean if you're going to blame Putin and COVID you might as well just throw all the other overly used excuses on the pile.

COVID isn't a excuse anyway. The first year of COVID was the worst on America and we handled it fine, we faired better than most countries did and we didn't have inflation even worth mentioning in 2021.

Putin also doesn't work either as our inflation had already started being an issue before he even set foot in Ukraine.

 

[shockedcanadian]

Even a first year economics student could predict this once the last big budget was being released. I found it disturbing that so-called objective "experts" stated that injecting trillions of more dollars into the economy would NOT result in inflation.

How do they get away with?

 

[Aldo Raine]

When she was Fed Chairwomen, the deficits declined from 1.3T to 442B, and tax receipts improved from 2.3T to 3.2T

Stop it with verifiable facts!!! Just stop it!
MAGA

 

[bendog]

btw, the OP also noted that inflation seems to be moderating. What Yellen and Biden got wrong (and Yellen doesn't mention) is that there was a shitload of money sitting in consumers' pockets even before the American Rescue Plan. And the Fed still had interest rates at zero, and was still buying govt debt like it was crack.

Perhaps, the money has been spent, and perhaps the Fed's rate hikes are causing consumer sentiment to sink faster than Biden's polls. Corn has also been coming down for nearly a month.

That said, there's NOTHING anyone can do about the demand for oil v. the supply. There's also probably nothing anyone can do about the probablity of food riots/wars coming in the upcoming months.

 

[ColonelAngus]

When she was Fed Chairwomen, the deficits declined from 1.3T to 442B, and tax receipts improved from 2.3T to 3.2T

What did she do specifically to make that happen?

1)

 

[marvin martian]

MSN

So you have one job, only one job, and you can't seem to do it.

Yep, that is the head of the Fed Yellen as she incorrectly predicted the path of the inflationary monster unleashed by the democrats.

Her excuse? She blames Covid and Putin for the glaring stupidity.

But then, she knew but just would not say, because she is one of many Left wing stooges in the government today who is there simply to try and help quell dissent and the rage of destroying any wealth the average American may have worked to achieve their whole lives.

She wasn't wrong, she lied.

 

[bendog]

What did she do specifically to make that happen?

1)

According to you, everythign she does is wrong. So fo.

 

[eagle1462010]

Pad $4.09 last Thursday. Gotta get gas on way home today.

 

[ColonelAngus]

According to you, everythign she does is wrong. So fo.

She didnt do anything for those numbers you posted…..as evidenced by the fact that you cannot cite anything.….SO FO!

You claim she is responsible for lower deficits. WHAT DID SHE DO TO LOWER DEFICITS?

THE HOUSE HANDLES SPENDING AND TAXES.

Good lord.

I will ask again…..What did Yellin do that raised tax receipts and lowered the deficit?

You dont know, do you?

Read a book about Civics.

 

[bendog]

She didnt do anything for those numbers you posted…..as evidenced by the fact that you cannot cite anything.….SO FO!

You claim she is responsible for lower deficits. WHAT DID SHE DO TO LOWER DEFICITS?

THE HOUSE HANDLES SPENDING AND TAXES.

Good lord.

I will ask again…..What did Yellin do that raised tax receipts and lowered the deficit?

You dont know, do you?

Read a book about Civics.

I'm not rewarding your knee jerk partisanship. I already noted she did not identify what she got wrong in 21-22. If you're unable to compare contrast today's econ situation and the fed to 15-19 THAT IS NOT MY FAULT. It is obvious to anyone who has a brain is not a partisan fuckster, though.

 

[ColonelAngus]

Until today, I had no idea the Treasury secretary passed taxing and spending bills.

Amazing.

 

[Weatherman2020]

How it started:
"I don't think there's going to be an inflationary problem, but if there is, the Fed can be counted on to address them."

How it was going:
"But I personally believe that this represents transitory factors."

How it is going now that inflation is at a 40 year high and our economy is crumbling into smoldering ruins:
"I think I was wrong then about the path that inflation would take."

THE ADULTS ARE BACK IN CHARGE, BABY! OUR RULING CLASS IN ACTION!

Sec. Yellen: 'I was wrong' about inflation (Update)

Earlier today I wrote about the rise of inflation last year even as President Biden and Treasury Sec. Janet Yellen repeatedly downplayed the threat. Here’s what Yellen was saying a year ago....

hotair.com

 

[task0778]

IMHO, there are a lot of people that interpret data through a biased lens. They discount or rationalize the data that doesn't fit their desired conclusion, or in some cases just change the data to fit into their agenda. I think Yellen is one of those people.

 

[Rambunctious]

She wasn't just wrong.... She fucking lied....

 

[Moonglow]

How else were the fat cats in control going to prosper the most without fed-infused dollars?

 

[Weatherman2020]

She wasn't just wrong.... She fucking lied....

Yep. All is proceeding as planned.

 

[Correll]

But the important part is that she is the FIRST woman to be Secretary of the Treasury.

That's important. After over 200 years, don't you think it was time for a woman?

 

[Votto]

“I was wrong about the path inflation would take,” Yellen said in an interview that aired Tuesday on CNN. “There have been unanticipated and large shocks to the economy that have boosted energy and food prices and supply bottlenecks that have affected our economy badly that at the time I didn’t fully understand.”

New variants of Covid, lockdowns in China and Russia’s war on Ukraine have all imposed shocks on the economy, the Treasury chief said after attending a meeting at the White House with President Joe Biden and Federal Reserve Chair Jerome Powell to address inflation.

Those tings HAPPENED...and they lead to this situation.

The Putin war HAS increased fuel prices and that is inflationary across the economy.

Lockdowns in China HAVE disrupted supply chains That means a shortage and shortages mean increased prices

Blaming your stupidity about not understanding what Putin and China are about and have been about in terms of their despotic nature and continued effect on the world is just another indication of how clueless these people are

In addition, to say that Putin's Ukraine invasion or China's lockdown caused her predictions to be so far off base is ludicrous.

But hey, Trump can't be blamed anymore cuz all he does is run about and play golf these days so the DNC has to blame someone for their lack of leadership and ineptitude.

 

[marvin martian]

How else were the fat cats in control going to prosper the most without fed-infused dollars?

Yup, that's what you voted for.

 

[Moonglow]

Yup, that's what you voted for.

I voted for seafood and got it that is how capitalism works.