https://issuesinsights.com/2022/04/27/see-if-you-can-follow-yellens-bouncing-inflation-ball/
Treasury Secretary Janet Yellen said over the weekend that we’re going to have to “put up with inflation for a while longer,” which means that she has now held just about every possible — and almost always wrong — position on an issue about which she is supposedly an expert. Is it any wonder nobody trusts elites anymore?
Yellen was on CNBC over the weekend and, when asked whether inflation had peaked, said:
“Well, it may have peaked, but … I think the shocks emanating from this unjustified attack on Ukraine will prolong inflationary pressures. So, the outlook is uncertain. As you know, the Fed is taking steps to bring inflation down, but I think we will have to put up with high inflation for a while longer.”
Let’s leave aside Yellen’s dubious claim that Russia’s invasion of Ukraine has had any meaningful impact on inflation. Why would it? Iraq’s invasion of Kuwait, which was far more disruptive to the global oil market, bumped oil prices up for a short period but had no broader inflationary effect.
The Putin-is-to-blame for skyrocketing prices is one of team Biden’s big lies meant to deflect blame. But the press never calls them on it.
No, what’s really troubling is the fact that Biden’s Treasury secretary has been so utterly clueless about inflation since joining his cabinet.
Let’s look at what Yellen has claimed about inflation since early last year and the actual results. The chart shows what inflation was doing when she made these statements.