Longtime Obama shill and Biden regime flunky Janet Yellen has finally confirmed what most Americans outside the Washington, D.C. bubble figured out a long time ago: inflation is a problem and it’s here to stay.
The Treasury secretary begrudgingly admitted that prices will stay “high”, despite her previous efforts to downplay the threat as “transitory,” Breitbart reported.
Inflation to remain “high”
The top Biden official told the Senate Finance Committee that she “could have used a better word” than “transitory” when she dismissed voters concerned by inflation last year. That’s certainly one way of putting it.
Persistently high prices have forced the Biden administration to shift its strategy from denying inflation is a problem to passing the blame on other forces, such as Russia’s invasion of Ukraine.
Yellen now concedes that inflation will “remain high” for the foreseeable future.
“I do expect inflation to remain high, although I very much hope that it will be coming down now,” Yellen said. “I think that bringing inflation down should be our number one priority.”
Yellen was ripped last week for telling CNN that her initial estimate on inflation was “wrong.” But she doesn’t seem to be in any hurry to let the administration take the blame for failing to get prices under control.
Opposite of “transitory”
She claimed Biden officials have “done everything that they can,” denied that Biden’s COVID stimulus spending had any role in driving up prices, and echoed Biden’s talking points on “Putin’s price hike.”
When she said that inflation would be transitory, Yellen couldn’t predict “impacts on food and energy prices we’ve seen from Russia’s invasion of Ukraine,” she told Congress. But inflation was a problem long before the war in Ukraine, and while the conflict has squeezed food and energy supplies, Biden has refused to encourage diplomacy to end the bloodshed.
Yellen has denied reporting that she lobbied for Biden’s stimulus plan to be smaller because she believed “too much government money was flowing into the economy.”
Democrats are expected to get whacked in the midterms over inflation, which is the top concern of voters facing the highest gas prices in American history. The average cost is now passing $5 per gallon for many consumers.
Biden’s frantic efforts to shift blame reached an absurd point when he suggested recently that voters getting poorer is part of an “incredible transition” to a carbon-free economy.