In a recent interview with FOX Business, Joe Biden’s Treasury Secretary Janet Yellen provided insights on the current state of inflation in the U.S., acknowledging that the journey back to normal inflation levels might not be entirely smooth.
Despite recent data suggesting a resurgence in inflationary pressures, Yellen remains optimistic, emphasizing that while fluctuations are expected, the overall trajectory toward reducing inflation is clear.
“I wouldn’t expect this to be a smooth path month to month, but the trend is clearly favorable,” she said, adding, “That said, [Joe] Biden’s top priority is addressing the issue of high costs that concerns so many Americans.”
Yellen reassured the public that tackling the high cost of living, a major concern for many Americans, remains a top priority for Biden’s administration. She reflected on the factors that have contributed to the inflation surge, including the global supply chain disruptions triggered by the pandemic, a tight labor market, and increased consumer demand spurred by government stimulus measures.
Although inflation has decreased from its peak in mid-2022, it still exceeds the Federal Reserve’s target of 2%. The cumulative impact since early 2021 has seen prices rise significantly, imposing a substantial financial strain on households across the nation. This strain is particularly acute for lower-income families, who are more vulnerable to the effects of rising prices on essential goods and services.
Yellen addressed concerns about the possibility of stagflation, a scenario characterized by stagnant economic growth coupled with high inflation. She confidently stated, “I don’t think we’re going to see stagflation.”
Yellen supported her view by pointing to economic forecasts that predict a gradual decrease in inflation over time, suggesting a positive outlook for the U.S. economy’s ability to overcome current inflationary challenges, per the report.
Oh really? Color me so surprised!! Of COURSE inflation and the current recession are ongoing. Until you pry the derp state and FJB’s handlers out of DC we’re still on the roller coaster to heck. If Yellen is in office the damage will continue. You know the sitch – “the beatings will continue until morale improves.” Somebody needs to pry that nasty little woman out of her lair and send her packing.
I absolutely agree!!! Just stopping all the wasteful government spending would make a world of difference in reducing inflation. And now I hear Biden wants to drop $200M into that cesspool Haiti. With no gov’t left in that country, who would end up with that money? What Haiti needs is a nuke dropped on them. Should’ve been done years ago.
And now we can expect even more cannibalistic Haitians to flood into our country over the open border, like they’ve been doing all along. People in this country better smarten up, and arm up, because the sh*t is certainly going to hit the fan in the near future.