Treasury Secretary Janet Yellen admits she was wrong about inflation | ABCNL

ABC White House correspondent Karen Travers joins us now to talk about the Biden administration's response to higher energy and food prices.

#JanetYellen #Inflation #ABCNLUpdate

[adamtedder]

Literally every regular working class person with half a brain predicted this would happen. Meanwhile these people said we didnt know what we were talking about. Seems they are the ones who dont understand.

[AmericanAntiCorruptionAct]

"By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens." — John Maynard Keynes

[carolshilliday]

The only honorable thing to do would have all the the decision makers resign. When you miss the fundamentals, you are not qualified to do the job!

[BobJohnson]

So, biden and friends aren't smart enough to tell Yellen and Powell what to do?

[rashiddean]

Biden is a lost sheep, couldn't count to 10

[blakessite]

Joe can't even comprehend what it's like to have an actual job. He has no clue.

[johnnycashh]

How do ECON professors teach this basic knowledge to students on inflation...yet these folks have ZERO clue on what to do?? I'm gonna use that "hands off approach" next time the boss asks me to fix something.

[V-max]

Anybody with a basic understanding of economics could have seen inflation coming with all these disastrous policies and “stimulus” money that was printed out of thin air

[brucebickford]

Hey Joe Biden, If you have not figured it out, Diesel is the main source that powers todays world - Farming, Trucking, shipping, production, construction, military large vehicles anything requires Diesel - if you want to cut inflation - get to work on Oil and Gas production in the USA - Open and complete Keystone Pipeline, add another, support Canadian Oil flow to the US, Open up all US options for drilling, lift restrictions, taxes - say it, do it, oil per barrel cost will drop quickly...and all cost for goods will drop...
Green Energy plan needs to laid out - and worked towards options, power production, Wind, Solar but also need storage capabilities, transmission lines, upgraded transmission stations - lines - all to meet the growing needs, , today you have 2% of cars on the road EV - to get to 10% you will need to double your ability to delivery power, all this will take 10-15-20-30 years...
We need Energy Today - Todays energy is Oil, Gas, Diesel, Natural Gas, Nuclear, Coal - expand it

[albertcovington]

Question...why do she still have the job?

[jamespark]

I really, really, dont understand her logic....if the country doesnt have a back up plan or is ready for war or global trade disputes or are they doing???? isnt that the sole purpose of the goverment??

[V-max]

Remember when you fill your tank this weekend our president is on vacation….again

[guyminthorne]

Wow how did you get it so wrong are you serious I would be even ashamed to admit that

[shirleyanderson]

She needs to be fired, she knew what she done.on pouporse.

[timothypopik]

Yellin has been wrong on EVERYTHING. Totally incompetent.

[GlennGoryl]

Perfect example of the priorities of this administration. People are picked because they "check boxes" - not because of their intelligence. Of course she is wrong. She is incompetent.

[emmanuelameyaw]

Another stimulus check...it will bring down inflation😀

[janmanchow]

The US economy is going into a deep dive. How much longer will the US can last...before bellying up ?

[znqo]

reporter at White house is Hott, seems liberal but still hot.

[perveetv]

2 years later and still high prices everywhere