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Treasury Secretary Yellen: On second thought, let’s not have inflation

Treasury Secretary Janet Yellen is apparently rethinking her approval of higher inflation, which was extinguished at great pain the the U.S. economy decades ago.

According to the Washington Examiner:

Treasury Secretary Janet Yellen said that her comments about higher inflation throughout the rest of the year are being misinterpreted.

After the G-7 meeting in London, where plans for a 15% global minimum tax were announced, Yellen said that inflation could be a point higher than the Federal Reserve’s goal for the rest of the year, remarks that drew headlines.

“We have, in recent months, seen some inflation, and we, at least on a year-over-year basis, will continue, I believe, through the rest of the year, to see higher inflation rates, maybe around 3%,” she said. “But I personally believe that this represents transitory factors.”

Yellen further said in an interview with Bloomberg that such a scenario would be a welcome one.

“If we ended up with a slightly higher interest rate environment, it would actually be a plus for society’s point of view and the Fed’s point of view,” she said.

Yellen tried to walk those comments back on her flight back to the United States. She told the New York Times that while she thinks inflation will be high for the next few months, it will settle back down to the Fed’s 2% target.

She also downplayed the possibility of negative effects from the increase in prices. “I don’t see any evidence that inflation expectations are getting out of control,” Yellen said.

2 thoughts on “Treasury Secretary Yellen: On second thought, let’s not have inflation”

  1. She knows not what she is talking about, The field of economics is labeled as “economic science”. It’s not a science. Real science (physics, biology, etc) is a function of natural laws that predict future individual events. Human behavior is not a science. Nobody has come up with “laws” that predict individual human behavior. It’s impossible because of our free will. Economics is a strong function of human behavior. Thus it’s not a science. Because it’s not a science nobody can predict how the overall economy will proceed. Therefore this woman knows not what she’s talking about. The probability of her guesses being right are as strong as the probabilities of being wrong. It’s all hot air coming out of her mouth.

  2. That lady is scary stupid. Sorry I hate calling one stupid. She messed up when she was appointed by Obumbo I think Clinton appointed her. Guess I could look it up but am in my 60’s so want to know if my brain is intact. She messes up and that worries me.

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