Treasury Secretary Janet Yellen says record-high inflation hikes for food, gas, and other essential items that fall into the “required to sustain life” category are here to stay.
“Inflation has been high and the shocks emanating from this unjustified attack on Ukraine will prolong inflationary pressures for a while,” Yellen told CNBC in an interview. “So the outlook is uncertain.”
She continued: “The Fed, as you know, has been taking steps to bring down inflation, but I think we’ll have to put up with high inflation for a while longer.”
Did you catch that?
Cause Of Inflation: Putin’s attack on Ukraine.
Cure for Inflation: Rate hikes from the Federal Reserve??
Point to Ponder: I wonder how high U.S. interest rates have to go for Putin to get the hint and withdraw from Ukraine.
This is what’s known as a failure by U.S. g0vernment 0fficials to take ownership of the inflationary crisis THEY created through reckless monetary policy, massive deficit spending, and Biden’s horrific energy policy.
Meanwhile, Treasury Secretary Yellen says the U.S. is poised to adopt new policies that will inevitably do further harm to the domestic economy over the long-term.
Yellen said Friday it was worth considering taking steps to lower U.S. tariffs on Chinese goods given the “desirable effects” such a move could have on lowering U.S. inflation.
“We want to do everything that we can to lower inflation,” Yellen told Bloomberg TV.
Cutting tariffs is “worth considering,” she added. “There would be some desirable effects. It’s something we’re looking at,”
So much for shoring up high-paying union jobs in the domestic manufacturing sector, eh Biden?
Kendall & Casey have more in the clip below.