On Wednesday, Treasury Secretary Janet Yellen pinned the United State’s out-of-control inflation on every day American’s spending habits.
Making her comments while appearing on the leftist “The Late Show with Stphen Colbert,” Yellen said price increases are not due to Biden’s spending, energy policies, COVID policies or sending billions of dollars to foreign nations. She only identified American consumer spending as being the main culprit.
Don’t blame the Biden Admin printing trillions of dollars: @SecYellen tells @StephenAtHome the real reason inflation is out of control is because Americans are “splurging” on goods; “and, remember, Russia has conducted a brutal war against Ukraine” pic.twitter.com/d0xbhA7sbH
— Tom Elliott (@tomselliott) December 1, 2022
She said, “It turned out the pandemic had very special impacts on the economy. Remember, everybody stopped spending on services.”
She went on to say, “They were in their homes for a year or more, they wanted to buy grills and office furniture, they were working from home, they suddenly started splurging on goods, buying technology.” The then said this caused “bottlenecks” within supply chains and damaged the economy.