What one thing might round out the Biden presidency and epitomize how we all feel with Slow Joe in charge?
A recession would certainly do the trick, particularly given the depressed attitude in America right now regarding the state of our currency thanks to inflation, the pain at the pump thanks to skyrocketing gas prices, the pain in personal finances thanks to the stock market crash, and the worries about the economy thanks to all of those factors and more, with everything made far worse by the unimpressive, senile “leader” America has at her helm right now.
And so, somewhat surprisingly, even the mainstream media is starting to press regime officials over the current state of America’s economy, with ABC News’ George Stephanopoulos recently quizzing Treasury Secretary Janet Yellen over the potential that the current economic issues in America could lead to a recession.
Asked by Stephanopoulos whether a recession was inbound and about the claims of many economists that a recession is on the horizon, Yellen said that while she expects “the economy to slow,” she is optimistic about the labor growth situation right now and thinks that could lead to better economic prospects in the future.
Making that point, Yellen said:
“I don’t think a recession is at all inevitable. Clearly, inflation is unacceptably high. It’s President [Joe] Biden’s top priority to bring it down, and [Federal Reserve Chair Jerome] Powell has said that his goal is to bring inflation down while maintaining a strong labor market. That’s going to take skill and luck, but I believe it’s possible.”
Whether Yellen can be trusted on such matters, however, is far from clear, as she was one of the public figures pushing the “inflation is transitory” line as it started to increase and then remained persistently high despite continued claims from Yellen types that it was only “transitory”.
Stephanopoulos, again surprisingly, raised that point too, questioning whether she and those making rosier predictions were being too optimistic given that they were completely wrong on inflation, asking:
“It turns out that you and the president maybe even the Fed were too optimistic about inflation last year. Concern that might be happening again with your suggestion that a recession is not inevitable?”
Yellen, for her part, responded by blaming inflation on certain factors outside of her control and echoing the Biden line that inflation is happening elsewhere, saying:
“It’s important to recognize that the United States is certainly not the only advanced economy suffering from high inflation and we see it in the U.K, we see it in France, Germany, Italy, and the causes of it are global, not local.
“Supply chain snarls, partly resulting from lockdowns in China are also boosting inflation. And so, these factors are unlikely to diminish immediately, but over time I certainly expect inflation to come down, and I think it’s possible to have that happen in the context of a strong labor market.”
Still, she’s been wrong before on this issue and things look dire, so it’s hard to take her recession comments without more than a grain of salt.
This story syndicated with permission from Will, Author at Trending Politics
Notice: This article may contain commentary that reflects the author's opinion.
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