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Yellen: "I regret saying inflation was transitory"
Posted on 3/13/24 at 9:15 pm
Posted on 3/13/24 at 9:15 pm
quote:
Treasury Secretary Janet Yellen said she regrets describing inflation in 2021 as “transitory,” the term several Federal Reserve and Biden administration officials used to describe the pandemic-induced price surges they initially thought would be temporary.
“I regret saying it was transitory. It has come down. But I think transitory means a few weeks or months to most people,” Yellen said during an interview with FOX Business Network’s Edward Lawrence on Monday.
Treasury spokesman Christopher Hayden said in an email to The Hill that this was not the first time Yellen expressed regret for calling inflation “transitory,” which she previously said during an interview with WBUR in January.
About time they admit the truth
quote:
Fed Chair Jerome Powell, who was also dinged for initially calling inflation transitory, and the central bank have hiked interest rates from near-zero in March 2022 to a range of 5.25 percent to 5.5 percent to try to curb inflation by cooling demand.
While many economists feared the rate hikes could push the economy into a recession a year ago, it now looks like the U.S. economy could be coming in for a rare “soft landing,” the term for slowing down the economy just enough to bring down high prices without triggering a recession.
The runway for the soft landing may be a bit bumpy as inflation is proving to be stickier than usual, but Yellen, a former Fed chair, was optimistic about the overall downward trend in price pressures.
“I wouldn’t expect this to be a smooth path month to month, but the trend is clearly favorable,” Yellen said.
Nevermind they are stilly lying and saying a soft landing will happen.
LINK
This post was edited on 3/13/24 at 9:17 pm
Posted on 3/13/24 at 9:31 pm to stout
3 years later. We all knew it but we’re the conspiracy theorists.
Posted on 3/13/24 at 9:32 pm to stout
quote:
But I think transitory means a few weeks or months to most people
I wasnt trying to mislead. Yall are just dum
Posted on 3/13/24 at 9:35 pm to stout
quote:
Yellen: "I regret saying inflation was transitory"
If it makes you feel better we knew you were lying.
Posted on 3/13/24 at 9:42 pm to stout
Who would've thought that handing out trillions of dollars and lowering interest rates to zero, all while the supply chain was a disaster, would cause inflation. Lowering rates to zero freed up a shitload of capitol for people to spend on other shite. How stupid are these people.
Posted on 3/13/24 at 9:42 pm to Deuces
quote:
3 years later. We all knew it but we’re the conspiracy theorists
The word you're looking for is "prophets"
Posted on 3/13/24 at 10:02 pm to stout
quote:
slowing down the economy just enough to bring down high prices without triggering a recession.
That's what triggers me the most. They still advertise that they will bring prices down, like deflation is a good thing.
Posted on 3/13/24 at 10:12 pm to stout
quote:
inflation was transitory
It's gonna make one helluva great ad later this year. That and the $.16 we saved.
Posted on 3/13/24 at 10:12 pm to stout
quote:
Treasury Secretary Janet Yellen
The fact that this buffoon is in charge of anything to do with monetary or fiscal policy is hard to fathom.
We would be better off rolling dice or flipping coins for guidance on these matters.
Posted on 3/13/24 at 10:13 pm to stout
quote:
“I regret saying it was transitory. It has come down. But I think transitory means a few weeks or months to most people
what reality do these people live in? I don't know what definition of inflation they use, but my dollar is worth significantly less than it was 4 years ago and it's gotten worse every year.
Posted on 3/13/24 at 10:36 pm to stout
Well, at least she admitted it. Few Covid mistakes have been admitted. But like always, there will be no accountability. Never is for those in government.
Posted on 3/13/24 at 10:58 pm to The Pirate King
quote:
I don't know what definition of inflation they use
Just exclude food and energy. Because nobody needs that stuff.
Posted on 3/14/24 at 12:22 am to arktiger28
quote:
But like always, there will be no accountability
quote:
Fed Chair Jerome Powell, who was also dinged for initially calling inflation transitory
what are you talking about, with this no accountability nonsense? Powell was "dinged!!"
Posted on 3/14/24 at 12:27 am to stout
That old penguin hag hasn’t been right about a single thing in her career. She’d never make it in the private sector.
Posted on 3/14/24 at 2:27 am to stout
What they should regret is locking down society for a disease that almost only kills very unhealthy people. All of this economic mess could have been avoided otherwise.
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