By The FirstTreasury Secretary Janet Yellen faced a brutal backlash on social media this week after the blamed record-high inflation on the spending habits of average Americans.
“Can you explain how inflation got so high?” asked Colbert.
Don't blame the Biden Admin printing trillions of dollars: @SecYellen tells @StephenAtHome the real reason inflation is out of control is because Americans are "splurging" on goods; "and, remember, Russia has conducted a brutal war against Ukraine" pic.twitter.com/d0xbhA7sbH
— Tom Elliott (@tomselliott) December 1, 2022
“We put policies in place that generated a very rapid recovery,” began Yellen.
“The pandemic had special impacts on the economy… Americans splurged on goods!”
Watch Yellen’s comments above.
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