Who would believe anything this old bat has to say after she admitted to being dead wrong about inflation?
Short answer: No one.
Just a week after Biden’s Treasury Secretary admitted to lying about inflation, the mainstream media invited her back to discuss the likelihood of another recession.
According to Yellen, a recession is not “at all inevitable” despite multiple economists’ predictions, including Larry Summers, who served as Obama’s chief economic adviser.
Last week the Federal Reserve hiked interest rates and raised concerns that an economic downfall could be looming as a result of Biden’s unprecedented inflationary spending.
Though the economy is predicted to worsen, Yellen, during an appearance on ABC’s This Week, maintained that it is “natural” to expect a transition after rapid growth.
“I expect the economy to slow,” Yellen told ABC’s George Stephanopoulos.
Stephanopoulos noted the changes in consumer habits as of late, highlighting the reduction in spending on basic services. He also noted the drastic downturn in the labor market as small businesses struggle to afford even minimum wage salaries.
Yellen admitted “spending patterns are changing” but failed to voice any concern.
Treasury Sec. Janet Yellen tells @GStephanopoulos that a recession isn't “inevitable," but says inflation is "unacceptably high."
— This Week (@ThisWeekABC) June 19, 2022
Pressed about whether her position was “too optimistic” after conceding earlier this week to being “wrong about the path of inflation” last year, Yellen admitted that “inflation is really unacceptably high.”
Yellen proceeded to repeat White House talking points on inflation, claiming that the U.S. isn’t the only first-world country suffering from inflation.
“It’s important to recognize that the United States is certainly not the only advanced economy suffering from high inflation. We see it in U.K., we see it in France, Germany, Italy.”
Yellen’s comments come as top economists anticipate the economy will fall into a recession by sometime next year.
Economists predict that the probability of recession is at 44% in the next 12 months, according to a survey by the Wall Street Journal published Sunday. The probability of a recession is rising due to higher borrowing costs, the pace of inflation, supply chain problems, and more.
More Americans are beginning to read the writing on the wall, and are finally understanding the Biden administration’s end goal:
They are seeking to radically transform the economy into a corporate globalist monstrosity as seen in Europe.
Author: Robert Bogart