The Biden team seems to have given up on doing anything about inflation and high gas prices.
Treasury Secretary Janet Yellen has changed her tune from calling it “transitory” to saying that she expects it to persist for a while.
Biden Treasury Secretary Janet Yellen: "I do expect inflation to remain high, although I very much hope that it will be coming down." pic.twitter.com/Jx8I9YE4Ul
— RNC Research (@RNCResearch) June 7, 2022
“I do expect inflation to remain high, although I very much hope that it will be coming down now,” Ms. Yellen said, adding that the Biden administration was updating its forecast from March that inflation would average 4.7% this year. In recent months, consumer inflation has trended above 8%. “The numbers aren’t locked in, but it’s likely to be higher” than the initial 4.7% forecast, she said.
“Hope” is not a strategy.
"How can you be confident that government spending is not the cause of inflation? Did you ever warn the White House?"
Treasury Secretary Janet Yellen ignores the questions as her staff runs interference. pic.twitter.com/v0ekZUaugX
— RNC Research (@RNCResearch) June 7, 2022