Commentary
Treasury Secretary Janet Yellen, who last year assured the nation that inflation was only a fleeting bogeyman, recently took to the pages of the Wall Street Journal to sell the Biden snake oil of a U.S. economy that we are supposed to believe is “resilient,” “strong,” “healthy,” and “robust” thanks to this administration’s endless inflationary spending, because of which she claims “the U.S. will be in a uniquely strong position to capitalize on the future.”
Funny, but just a few days before her overflowingly optimistic op-ed, Yellen was telling CBS’s 60 Minutes “there’s a risk of a recession,” then craftily adding that “it certainly isn’t, in my view, something that is necessary to bring inflation down”—a suggestion that the aggressive but less-than-Volckeresque higher interest rate policy of the Federal Reserve she once chaired will be to blame for the downturn that likely has already begun….