{"id":1500027,"date":"2022-06-01T15:15:47","date_gmt":"2022-06-01T19:15:47","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1500027"},"modified":"2022-06-01T15:15:59","modified_gmt":"2022-06-01T19:15:59","slug":"i-was-wrong-bidens-treasury-sec-admits-she-bungled-inflation-prediction","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/i-was-wrong-bidens-treasury-sec-admits-she-bungled-inflation-prediction\/","title":{"rendered":"\u2018I Was Wrong\u2019: Biden\u2019s Treasury Sec Admits She Bungled Inflation Prediction"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fi-was-wrong-bidens-treasury-sec-admits-she-bungled-inflation-prediction%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1500027&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p><span>United States Treasury Secretary Janet Yellen admitted she was wrong in the past about her inflation predictions during an interview with CNN\u2019s Wolf Blitzer.<\/span><\/p>\n<p><span>\u201cI think I was wrong then about the path that inflation would take,\u201d Yellen <\/span><a href=\"https:\/\/www.cnn.com\/videos\/business\/2022\/05\/31\/janet-yellen-admits-to-being-wrong-about-inflation-sot-tsr-vpx.cnn\/video\/playlists\/business-economy\/\"><span>told <\/span><\/a><span>Blitzer Thursday on \u201cThe Situation Room\u201d in response to 2021 comments where she claimed inflation would be \u201ca small risk.\u201d<\/span><\/p>\n<p>When Blitzer asked if it was a mistake to \u201cdownplay\u201d the risk of inflation, Yellen responded that unforeseen factors such as a new strain of COVID-19 and Russia\u2019s invasion of Ukraine complicated her earlier predictions.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">CNN\u2019s Wolf Blitzer: \u201cWas it a mistake, Madame Secretary, to downplay this inflation risk? Did that contribute to the problems we\u2019re all seeing right now?\u201d<\/p>\n<p>Treasury Secretary Janet Yellen: \u201cWell, look, I think I was wrong then about the path that inflation would take.\u201d <a href=\"https:\/\/t.co\/9reuP2cij7\">pic.twitter.com\/9reuP2cij7<\/a><\/p>\n<p>\u2014 Curtis Houck (@CurtisHouck) <a href=\"https:\/\/twitter.com\/CurtisHouck\/status\/1531767241703817220?ref_src=twsrc%5Etfw\">May 31, 2022<\/a> <\/p>\n<\/blockquote>\n<p><span>\u201cAs I mentioned, there have been unanticipated and large shocks to the economy that have boosted <\/span><a href=\"https:\/\/dailycaller.com\/2022\/06\/01\/editor-daily-rundown-america-braces-severe-gas-pains\/\"><span>energy<\/span><\/a><span> and food prices and supply bottlenecks that have affected our economy badly that I didn\u2019t \u2013<\/span><span>at the time\u2013 fully understand, but we recognize that now,\u201d Yellen said.<\/span><\/p>\n<p><span>Yellen\u2019s <\/span><a href=\"https:\/\/dailycaller.com\/2022\/05\/23\/editor-daily-rundown-white-house-admits-things-worse-economy-recession-inflation\/\"><span>admission<\/span><\/a><span> comes as the Biden administration has failed to control skyrocketing prices, with inflation hitting its highest level since 1981.\u00a0<\/span><strong><a href=\"https:\/\/dailycaller.com\/2022\/05\/31\/joe-biden-inflation-trafalgar-russia-ukraine-spending\/\">(RELATED POLL: Most Americans Blame Biden For Rampant Inflation)<\/a><\/strong><\/p>\n<p><span>The Consumer Price Index hit <\/span><a href=\"https:\/\/www.bls.gov\/charts\/consumer-price-index\/consumer-price-index-by-category.htm\"><span>8.3%<\/span><\/a> <span>in April 2022 compared to 4.2% in 2021.<\/span><\/p>\n<p><span>Yellen said she believed the <\/span><a href=\"https:\/\/dailycaller.com\/2022\/05\/31\/joe-biden-meeting-jerome-powell-inflation\/\"><span>Federal Reserve<\/span><\/a><span>\u00a0could curb inflation by increasing interest rates and shrinking its stockpile of treasury bonds.<\/span><\/p>\n<p><span>\u201cFor our part, President Biden is focused on supplementing what the Fed does with actions we can take to lower the costs Americans face for important expenditures they have in their budget,\u201d Yellen said.<\/span><\/p>\n<p><span>The administration would work with Congress to boost the use of renewable energy to lower utility bills, Yellen said during the interview.\u00a0<\/span><\/p>\n<p><span>The Department of the Treasury did not respond Daily Caller News Foundation\u2019s request for comment.<\/span><\/p>\n<p>Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact <a href=\"mailto:licensing@dailycallernewsfoundation.org\">licensing@dailycallernewsfoundation.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>United States Treasury Secretary Janet Yellen admitted she was wrong in the past about her inflation predictions during an interview with CNN\u2019s Wolf Blitzer.\u201cI think I was wrong then about<\/p>\n","protected":false},"author":872,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1500027","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1500027","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/872"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1500027"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1500027\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1500027"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1500027"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1500027"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}