Treasury Sec Admits Error on Inflation
Inflation is crushing many Americans, and we need a plan to stop it. As our leaders struggle to contain it, we must pray desperately.
From Fox Business. U.S. Treasury Secretary Janet Yellen said on Tuesday said she was wrong about the path inflation would take following months of public statements over its perceived threat.
“I think I was wrong then about the path that inflation would take,” she said during a CNN interview. “As I mentioned, 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 I didn’t at the time fully understand….”
“So really, the shocks to the economy have continued, but inflation is the number one concern for President Biden,” Yellen added.
In March, Yellen appeared to contradict the White House when she said she was expecting another year of “uncomfortably high” inflation.
“I think there’s a lot of uncertainty related to what’s going on with Russia and Ukraine and I do think that it’s exacerbating inflation,” Yellen said on CNBC at the time….
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(Excerpt from Fox Business. Photo Credit: olieman.eth on Unsplash)
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