Treasury Secretary Janet Yellen Admits She Was “Wrong” About Inflation

During an interview on CNN Yellen said “I think I was wrong then about the path that inflation would take.”

Treasury Secretary Janet Yellen acknowledged in an interview on Tuesday that she was “wrong” about “the path that inflation would take,” as the lagging COVID-19 pandemic and Russian invasion in Ukraine have kept prices persistently high.

During an interview with CNN’s Wolf Blitzer, the network played a clip of previous comments she made in 2021, in which she said inflation would be a “small risk” and added that she didn’t “anticipate that inflation is going to be a problem.”

“Well, look, I think I was wrong then about the path that inflation would take,” the Treasury secretary said when asked about her previous comments. “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.”

And this is the US Treasury Secretary saying that.
How can the whole of Biden's administration be so inept?

SumKindaMunster · 51-55, M

She's falling on the sword for the Biden administration. Her job is not at risk during the 2022 elections, Biden's supporters in Congress are.

Budwick · 70-79, M

@SumKindaMunster And THAT'S why Munster is so good at what he does!
He's a specialist, a professional.

Every time I read your comments, I learn stuff - seriously.
I appreciate you.

DavidT8899 · 22-25, M

Dont you pick on her!She admitted she was wrong,what more do you want?After all,how could ANYONE predict that dumping billions in free money into the economy would cause things to inflate?Do you expect her to know EVERYTHING?:)