Biden Treasury Secretary Janet Yellen Admits She Was Wrong About Inflation (VIDEO)

Biden’s Treasury Secretary Janet Yellen is admitting she was wrong about inflation being temporary or transitory.

It’s amazing to hear a government official admit they were wrong, but that doesn’t change the harsh reality for Americans who are struggling with higher prices on everything.

Also, millions of Americans could have told her she was wrong months ago.

CBS News reports:

Yellen admits she was “wrong” about inflation in 2021

Treasury Secretary Janet Yellen told CNN on Tuesday that she was wrong when she said last year that inflation only posed a small risk and wasn’t likely to be a problem.

POLL: Do You Think Trump Was The Real Winner Of The Election?

Completing this poll entitles you to ProTrumpNews updates free of charge. You may opt out at anytime with a single click. Here's the Privacy Policy.

Yellen made the comments to Wolf Blitzer, after the host replayed clips of Yellen calling the risk of inflation “small” and “manageable,” and said she didn’t “anticipate that inflation is going to be a problem.” Federal officials called inflation transitory in the past, but since then, inflation has reached levels not seen in 40 years, with the Federal Reserve and policymakers struggling to bring it down.

“Well, look, I think I was wrong then about the path that inflation would take,” Yellen said Tuesday. “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 didn’t fully understand. But we recognize that now.”

“The Federal Reserve is taking the steps that it needs to take,” she added. “It’s up to them to decide what to do. And for our part, President Biden is focused on supplementing what the Fed does with actions we can take to lower the costs that Americans face for important expenditures they have in their budgets. Prescription drugs is one example. Health care costs, another example. Utility bills,” she added.

Trending: Joe Biden Is Quietly Lowering Expectations For Democrats In The Midterms

Here’s the video:

It doesn’t inspire much confidence to hear the treasury secretary say that she didn’t fully understand this.


Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please hover over that comment, click the ∨ icon, and mark it as spam. Thank you for partnering with us to maintain fruitful conversation.