On Sunday, US Treasury Secretary Janet Yellen was forced and confess the truth about the inflation crisis in America.
“We are going through a period of inflation that’s higher than Americans have seen in a long time, and it’s something that’s obviously a concern and worrying them, but we haven’t lost control,” she stated for CNN.
In the past, Yellen claimed that inflation was transitory and would pass fast. Now we can see it was a lie.
“When do you expect inflation to get back to the 2 percent range, which is considered normal?” the host Tapper asked.
“I expect that to happen next year,” Yellen answered without proof. “Inflation will remain high into next year because of what’s already happened, but I expect improvement by the middle to end of next year, the second half of next year,”
“The COVID crisis markedly diminished spending on services and caused a reallocation of spending towards goods,” Yellen added. “The supply of goods to Americans has increased substantially, but there’s still pressure there.”
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