Yellen contradicts Psaki: at least another year of uncomfortable inflation
Jen Psaki suggested that gas prices will continue to climb partly because of the Russo-Ukrainian war. After a few months of rising, the rate of rise should stabilize. She further suggested that this was temporary. However, Janet Yellen provided a different forecast suggesting that we are going to be experiencing inflation for at least another year.
From Fox News:
Treasury Secretary Janet Yellen appeared to contradict the White House in a Thursday interview after saying that she expects another year of “uncomfortably high” inflation.
“I think there’s a lot of uncertainty related to what’s going on with Russia and Ukraine and I do think that it’s exacerbating inflation,” Yellen said on CNBC Thursday. “I don’t want to make a prediction exactly as to what’s going to happen in the second half of the year, you know, we’re likely to see another year in which 12-month inflation numbers remain very uncomfortably high.”
Earlier in the day, White House Press Secretary Jen Psaki suggested inflation would “moderate” at the end of this year and that it continues to be the “projection” that high inflation will be “temporary.”
“We rely on the assessment of the Federal Reserve and outside economic analysts who give an assessment of how long it will last. The expectations and their assessment at this point is that it will moderate at the end of the year,” Psaki said.
In May of last year, Psaki assured Americans that inflation would be “transitory” which is a term that Yellen said in December of last year should not be used to describe inflation.
Fox News has the article on Jen Psaki’s perspective as well as that of Janet Yellen.
Category: Politics
Getting more and more like a “The Three Stooges” flick every day!
I’m not sure that “The Three Stooges” were anywhere near as incompetent as this klowne krewe is.
This makes the Weimar Republic brain trust look like a bunch of geniuses…
It’s gonna rip everyones teats off when (if?) there is a correction. Printer go Brrrrrrrrrr
https://www.macrotrends.net/1437/sp500-to-gold-ratio-chart
Given the sloshing and gross stupidity it’s a very real possibility we crash below 1:1. I’d LOVE to see .25 as an adult.
Every cream pie that Moe Howard threw always hit the target. Great shot with the pies.
The Three Stooges only fucked up things for twenty minutes. The Biden-Harris Administration have four years to pound us in the ass.
The only consolation is they have screwed every segment of America, there is no way that they can remain in office after January 2025. If we can hold on that long.
“never let a crisis go to waste.”
Maybe the ones that caused the inflation to put the squeeze on our pocket money, need to feel the squeeze of a noose around their necks. Jes’ sayin’
I’m wit’cha dere, Gun Bunny.
The Fed is a Madam to the banks. They know precisely what they do, how long they’re going to do it, and how much they’re gonna fk you.
At this point the messaging being given is just so you focus on the smoke and not the giant dumpster fire under your feet until it’s too late.
W40R35!
After a winter of “severe illness and death”, another 12 months of “uncomfortably high” inflation is to be expected.
There has literally been no good news since 20 Jan 2021 coming out of D.C.
13 FEB 2021 was pretty sweet.
https://en.wikipedia.org/wiki/Second_impeachment_of_Donald_Trump
I watched dang near every second of that crapshow circus in the Senate. If those House impeachment managers were their A-team…?
I fear nothing!
Today:
hOw WiLL hE eVEr rEcOVeRy?!
Someone should start a GoFundMe. Hopefully the Canadian gobermint don’t shut ‘er down.
He still has his artist money from that shit Biden calls art. I think I see a future Senator from Delaware in there.
Psaki: “After a few months of rising, the rate of rise should stabilize.”
This is bullshit corporate/government speak for, prices are going up and up, but at a steady rate. If that is even true. No matter our reserves, the price gouging started as soon as Russia invaded. When it’s all over, whatever the outcome, the press release will say ” Even though prices and supply are stable now, it could be months before we see a drop at the pumps.
Truth is, they don’t know what they are doing or will do and so have no idea what they are talking about. And, trusting the Federal Reserve to decide the fate of the economy is as good as asking the government and banks, ‘hey, what’s best for you guys?’.
Sparks, it’s entirely possible that the entire money system can collapse in on itself. I do believe it will. The nonsense going on with inflation is only one example. That’s the reason I keep telling you all to stock the pantry and the freezer chest. Food may have more value down the road than so-called cash, unless this nonsense is stopped.
“…and the freezer chest.”
You plan on having electricity?
Optimist.
Oh and don’t forget, he, who’s name I won’t utter. Stated during his SOTU address, that the American people, don’t know how much better things have gotten for them over the last year.
Oh yes IDIOT, inflation is awesome no one ever said!
Everytime I see that idiot on TV, I keep expecting to see Jeff Dunham manipulating him, as he looks just like Walter!
Oh, yes, it’s much better with gas at the pump now at $4.699 this morning, when two weeks ago it was $2.899.
That’s considerably better, don’t you think?
Our local prices are $3.99 to $4.64…….Or $112.00 to $130.00 for us to fill up from empty. Not that we EVER let it get that low.
This shit is cutting into my gun and ammo funds! Not cool at all!
Watching the news tonight, a truck driver in Tennessee was interviewed. He had just filled up his semi, and his reefer trailer, with diesel. It cost him $1052.00. That’s correct, over $1000.
I’d bet that prices like that to fill up a truck will very soon impact the cost of everything from shampoo, to milk, to beer, to whiskey, to meat and everything else.
Maybe Canada will do air drops of food over the U.S.?
Just saw that last night as well. As a former otr driver, it took on average 3 fills to go from California to Chicago or st louis.
The companies or owner operators can only eat that cost for so long. I’m sure many of them have implemented a fuel surcharge, which probably changes by the day.
The more the prices go up and so does the tax on that item.. I thought that psaki was leaving the dc Kremlin???
Thankfully the US hasn’t implemented a VAT tax (value added tax) like our friends north of the border have.
Well, at least not yet.
A recently passed bill is aimed at allowing the Treasure to put the USA entirely on digital currency. This is not a good idea, even if it seems like it. Fiat currency (real stuff) has actual value. Digital currency is another form of bitcoin crap.
If this happens, and taking all the fraud online into account, it is not a good thing. Bad idea. Bad, bad idea. What if merchants decide to refuse it? Or some poor soul’s card gets hacked?
Digital, shmigital: it’s all crap. Might as well go back to paying for things with big round stones.
This is another step on the road to
hellsocial credit scores, looking at how they’re trying to kaibosh the Canadian truckers and Russkies.If inflation is “transitory” could the white house idiots please exp[lain why the dollar does not purchase as much as it did in say 1975?? Seems to me if it really was transitory then the dollar would be worth as much as it was when tricky dicky took us off the gold standard. But what the heck do I know, I just took economics in College, unlike any of the dim bulbs (dead bulbs) in the president alzheimer’s administration.
No, no, no. You see, there is good inflation and bad inflation. Two percent (2%) inflation is *good* inflation–that’s what the FED actually tries for. Anything over 2 is *bad* inflation.
It’s like gaining weight; if you only gain two pounds a year, that’s okay. You don’t notice it while you are doing it, but one day in the future, just as you are starting to enjoy the fruits of all your toil and tears, you drop dead of a heart attack, etc., thus saving the SS & health insurance systems a lot of money—-but that’s not why they do it. Honest.