Secretary Of Treasury Janet Yellen Tells Three Different Stories About Inflation That Should Concern Us All

Inflation is expected to reach a high of 7% as President Joe Biden and Secretary of Treasury Janet Yellen are ignoring the issue. It’s hitting Americans hard, especially at the grocery store and gas pumps.

Yellen said, “It is inappropriate to judge this legislation based on the assumption that future acts of Congress won’t be paid for.”

Let’s not budget for the future, guys, and it’s no big deal. Balancing budgets means nothing when signatures can be placed on paper to spend more money. Why wouldn’t the citizens be upset about the way politicians have acted?

Yellen just told CNBC, “I think we do have to be concerned about inflation.”

Why the flip flop?

What’s troubling is the fact that Yellen has to flip-flopped, just like the rest of Biden’s administration. It’s an issue that must be addressed.

Yellen also said, “In the long run, the Fed (Federal Reserve System) must play an important role in preventing endemic inflation. And I know they can be relied upon to do so.”

The government needs to be less involved, not more. Suppose the government spent less than we would be in a better place. There’s no debating that.

Then, there’s the diversion.

Yellen said, “It’s important to realize that the cause of this inflation is the pandemic.”

So, should we not be concerned, or should we blame COVID-19? There does not appear to be a simple solution to the inflation problem.

Was there a lot of money spent in 2020? Yes. Was it necessary? Yes. The government shut down the means of production for many businesses and took citizens’ ability to make a living away from them. In more ways than one, our liberty was threatened, and it’s still being threatened. With mandates and lockdowns, the way of American life and the Constitution is being placed on the back burner for a short and shallow sense of safety. That’s never a factor in freedom.

Yellen also said, “The pandemic has been calling the shots for the economy and inflation. And if we want to get inflation down, I think continuing to make progress against the pandemic is the most important thing we can do.”

That’s not how this works. The government doesn’t decide when inflation goes up or down. A free-market system does that and the government giving the citizens the ability to make money is the solution for the problem they’ve created.