{"id":1554843,"date":"2022-07-14T16:51:20","date_gmt":"2022-07-14T20:51:20","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1554843"},"modified":"2022-07-14T16:51:29","modified_gmt":"2022-07-14T20:51:29","slug":"yellen-addresses-unacceptably-high-inflation-reveals-what-biden-admin-will-do-next","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/yellen-addresses-unacceptably-high-inflation-reveals-what-biden-admin-will-do-next\/","title":{"rendered":"Yellen Addresses \u2018Unacceptably High\u2019 Inflation, Reveals What Biden Admin Will Do Next"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/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%2Fyellen-addresses-unacceptably-high-inflation-reveals-what-biden-admin-will-do-next%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=1554843&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--><p>Treasury Secretary <a href=\"https:\/\/www.theepochtimes.com\/t-janet-yellen\">Janet Yellen<\/a> on Thursday stated that U.S. inflation is \u201cunacceptably high\u201d following a grim price level report that was issued by the Bureau of Labor Statistics a day before.<\/p>\n<p>The Consumer Price Index, a key measure of inflation, rose 9.1 percent year-over-year in June\u2014the highest figure since November 1981. Meanwhile, another indicator, the Producer Price Index, shot up to 11.3 percent, according to a government report released Thursday.<\/p>\n<p>\u201cWe are taking our own steps which we believe will be supportive in the short term to get inflation down\u2014particularly what we\u2019re doing on energy prices and the Strategic Petroleum Reserve,\u201d Yellen told reports in Indonesia on Thursday in reaction to the dismal numbers.<\/p>\n<p>\u201cWe\u2019re first and foremost supportive of the Fed\u2019s efforts\u2014what they see, deemed to be necessary to get inflation under control,\u201d Yellen added, according to a Treasury Department transcript.<\/p>\n<p>The Treasury is \u201ctaking our own steps that we believe will be supportive in the short term to get inflation down, particularly what we\u2019re doing on energy prices, the Strategic Petroleum Reserve,\u201d she also said, referring to the federal government\u2019s controversial practice of releasing oil from the Reserve, which exists as a buffer of emergency oil for use during emergencies such as a war.<\/p>\n<p> Policies <\/p>\n<p>Conservatives have expressed outrage at the Biden administration for <a href=\"https:\/\/www.foxbusiness.com\/politics\/gop-hammers-biden-allowing-emergency-oil-reserves-china-compromising-energy-security\">allowing<\/a> oil from the\u00a0Strategic Petroleum Reserve to be sold to China and other foreign countries, with some even floating impeachment over it.<\/p>\n<p> <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/1.tagreuters.com2022binary_LYNXMPEI640DE-FILEDIMAGE-1200x799-1.jpg\"><\/a> The Bryan Mound Strategic Petroleum Reserve, an oil storage facility, is seen in this aerial photograph over Freeport, Texas on April 27, 2020. (Adrees Latif\/Reuters) <\/p>\n<p>Republicans have further argued that Biden\u2019s policies, including his support for gigantic <a href=\"https:\/\/www.theepochtimes.com\/t-covid-19\">COVID-19<\/a> stimulus packages worth trillions of dollars, have exacerbated inflation.<\/p>\n<p>The Federal Reserve, which already has hiked interest rates in recent weeks, may raise rates<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Treasury Secretary Janet Yellen on Thursday stated that U.S. inflation is \u201cunacceptably high\u201d following a grim price level report that was issued by the Bureau of Labor Statistics a day before. The Consumer Price Index, a key measure of inflation, rose 9.1 percent year-over-year in June\u2014the highest figure since November 1981. Meanwhile, another indicator, the [\u2026]<\/p>\n","protected":false},"author":58,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1554843","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\/1554843","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\/58"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1554843"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1554843\/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=1554843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1554843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1554843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}