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Treasury Sec. Janet Yellen blasted on Twitter after admitting ‘I was wrong’ on inflation: ‘Resign’

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Treasury Sec. Janet Yellen blasted on Twitter after admitting ‘I was wrong’ on inflation: ‘Resign’

 

Secretary of the Treasury Janet Yellen irked plenty of people with her admission Tuesday that she was “wrong” on inflation being transitory. The resounding message from critics on Twitter was for Yellen to “resign.”

Appearing on CNN with anchor Wolf Blitzer, Yellen admitted that she had not anticipated just how intense and prolonged America’s inflation suffering would be.

Last June, Yellen claimed that inflation would be “transitory.” A few months prior to that, the Treasury secretary claimed that inflation risks were “small and manageable,” and even before that, Yellen assured concerned Americans that the Biden administration could handle any inflation risks as they come.

 

 

Tuesday’s Blitzer appearance marked a complete U-turn on that rhetoric. Yellen told the anchor, “I think I was wrong then about the path that inflation would take.”

She provided excuses, adding, “As I mentioned there have been unanticipated and large shocks to the economy that have boosted energy and food prices and um, supply bottlenecks that have affected our economy badly, that I didn’t, at the time, understand.”

A Treasury Department spokesperson told FOX News, “The Secretary was pointing out that there have been shocks to the economy that have exacerbated inflationary pressures which couldn’t have been foreseen 18 months ago, including Russia’s decision to invade Ukraine, multiple successive variants of COVID, and lockdowns in China. As she also noted, there has been historic growth and record job creation and our goal is now to transition to steady and stable growth as inflation is brought down.”

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