If you think the economy, and the buying power of your paycheck continues to swirl the drain, just wait ’till the next 12 months come to be.
So saith Joe Biden’s hand-picked choice to be the current Sec. of the Treasury (and ex-Chairwoman of the Federal Reserve), Janet Yellen.
But of course, it’s all Russian Pres. Vladimir Putin’s fault. Never mind Biden’s past false bravado… all that malarkey about how the buck supposedly stops with him.
In an interview with CNBC, Yellen painted quite the grim picture of the shape of things to come.
As penned by reporter Ramsey Touchberry of the Washington Times (emphasis mine);
Treasury Secretary Janet Yellen warned that Americans should expect to continue paying increased prices on everyday goods for the next year, offering a reversal from her previous forecast that record-high inflation would soon subside.
The main culprit, she told CNBC’s “Closing Bell” on Thursday, was Russia’s war against Ukraine.
Ms. Yellen‘s claim that Russian President Vladimir Putin is to blame for America’s inflation woes echoes that of the Biden administration writ large, which has received criticism for dubbing the phrase “Putin’s price hike.”
“I think there’s a lot of uncertainty that is related to what’s going on with Russia in Ukraine,” Ms. Yellen said on the network. “And I do think that it’s exacerbating inflation.”
“We’re likely to see another year in which 12-month inflation numbers remain very uncomfortably high,” she added.