{"id":1758343,"date":"2022-12-01T12:13:04","date_gmt":"2022-12-01T17:13:04","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1758343"},"modified":"2022-12-01T12:18:24","modified_gmt":"2022-12-01T17:18:24","slug":"treasury-sec-yellen-blames-americans-for-inflation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/treasury-sec-yellen-blames-americans-for-inflation\/","title":{"rendered":"Treasury Sec Yellen Blames Americans for Inflation"},"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\">14<\/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%2Ftreasury-sec-yellen-blames-americans-for-inflation%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=1758343&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 class=\"speakable\">Treasury Secretary Janet Yellen blamed consumers&#8217; excessive spending habits as a primary cause for the near <a href=\"https:\/\/www.foxnews.com\/category\/us\/economy\/inflation\" target=\"_blank\" rel=\"noopener\">40-year-high in inflation<\/a> on Wednesday.<\/p>\n<p class=\"speakable\">The Biden official appeared on &#8220;The Late Show with Stephen Colbert&#8221; where she was asked about the price increases that have plagued the U.S. for more than a year.<\/p>\n<p>Colbert asked her to explain to his audience how inflation got out-of-hand when &#8220;two years ago everything seemed fine.&#8221; The late-night host, known for his <a href=\"https:\/\/www.foxnews.com\/media\/colbert-loves-biden-waves-camera-fawning-interview-karine-jean-pierre\" target=\"_blank\" rel=\"noopener\">sycophantic boosting of President Biden<\/a> and Democrats, even noted the Biden administration dismissed inflation as a &#8220;small risk&#8221; as recently as last year.<\/p>\n<p>Yellen argued the administration managed the COVID-19 pandemic so well that consumers felt comfortable to &#8220;splurge&#8221; on goods.<\/p>\n<div class=\"image-ct inline\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 767px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxnews.com\/foxnews.com\/content\/uploads\/2022\/12\/640\/320\/Screen-Shot-2022-12-01-at-9.36.33-AM.png?ve=1&#038;tl=1\" alt=\"Treasury Secretary Janet Yellen blamed high inflation in part on consumer \" splurging \/><\/div>\n<div class=\"caption\">\n<p>\n      Treasury Secretary Janet Yellen blamed high inflation in part on consumer &#8220;splurging.&#8221;\n      <\/p>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/www.foxbusiness.com\/politics\/janet-yellen-promoting-biden-policies-as-the-key-to-advancing-nations-long-term-economic-well-being\" target=\"_blank\" rel=\"noopener\"><strong>JANET YELLEN PROMOTING BIDEN POLICIES AS THE KEY TO ADVANCING NATION&#8217;S \u2018LONG-TERM ECONOMIC WELL-BEING\u2019<\/strong><\/a><\/p>\n<p>&#8220;So we had a rapid recovery from the pandemic,&#8221; she said, arguing Biden&#8217;s policies brought unemployment down from 7% to 3.7%.<\/p>\n<p>&#8220;It turned out the pandemic had very special impacts on the economy. Remember, everybody stopped spending on services,&#8221; she pointed out, as businesses were shut down. Instead, people spent more money on &#8220;grills,&#8221; &#8220;technology&#8221; and office equipment as they were working from home.<\/p>\n<p>&#8220;They were in their homes for a year or more, they wanted to buy grills and office furniture, they were working from home, they suddenly started splurging on goods, buying technology,&#8221; she claimed, which led to supply chain &#8220;bottlenecks.&#8221;<\/p>\n<p>Later in the interview, Yellen also blamed Russia for the increase in food and gas prices.<\/p>\n<div class=\"image-ct inline\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 767px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxnews.com\/foxnews.com\/content\/uploads\/2020\/02\/640\/320\/couple-money-wedding-istock.jpg?ve=1&#038;tl=1\" alt=\"Couple with money\" \/><\/div>\n<div class=\"caption\">\n<p>\n      Couple with money<br \/>\n      <span class=\"copyright\">(iStock)<\/span><\/p>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/www.foxbusiness.com\/economy\/janet-yellen-makes-late-show-appearance-tells-colbert-her-signature-currency-legible\" target=\"_blank\" rel=\"noopener\"><strong>JANET YELLEN MAKES \u2018LATE SHOW\u2019 APPEARANCE, TELLS COLBERT HER SIGNATURE ON CURRENCY WILL BE LEGIBLE<\/strong><\/a><\/p>\n<p>There was no mention during the remarks about multi-trillion-dollar spending bills that have been passed and signed during Biden&#8217;s administration. She also isn&#8217;t the only White House official who&#8217;s blamed inflation on Americans spending recklessly or who has dismissed economic concerns.<\/p>\n<p>White House chief of staff Ron Klain was mocked for suggesting rising costs and supply chain issues were a <a href=\"https:\/\/www.foxnews.com\/media\/biden-official-inflation-high-class-trump-price\" target=\"_blank\" rel=\"noopener\">&#8220;high class&#8221; problem <\/a>last year.\u00a0<\/p>\n<p>Energy Secretary <a href=\"https:\/\/www.foxnews.com\/politics\/clips-of-energy-sec-laughing-off-gas-price-concerns-resurface-as-pain-at-pump-intensifies\" target=\"_blank\" rel=\"noopener\">Jennifer Granholm<\/a> was also criticized for laughing at rising gas prices and offering Americans tax credits for installing solar panels on their homes.<\/p>\n<p>Liberal journalists like <a href=\"https:\/\/www.foxnews.com\/media\/msnbcs-stephanie-ruhle-says-americans-actually-can-afford-more-expensive-food\" target=\"_blank\" rel=\"noopener\">MSNBC&#8217;s Stephanie Ruhle <\/a>have also argued consumers could afford to spend more money on groceries and utilities.\u00a0<\/p>\n<div class=\"image-ct inline\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 767px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxnews.com\/foxnews.com\/content\/uploads\/2022\/09\/640\/320\/GettyImages-1423502007.jpg?ve=1&#038;tl=1\" alt=\"The Consumer Price Index continued to climb in October&#039;s BLS report.\" \/><\/div>\n<div class=\"caption\">\n<p>\n      The Consumer Price Index continued to climb in October&#8217;s BLS report.<br \/>\n      <span class=\"copyright\">(Mario Tama\/Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n<p>In October, the Consumer Price Index <a href=\"https:\/\/www.foxbusiness.com\/economy\/inflation-holds-grip-us-economy-october-prices-remain-stubbornly-high\" target=\"_blank\" rel=\"noopener\">rose 0.4% <\/a>from September.<\/p>\n<p>Despite prices still being near the 40-year high, Biden told a reporter last month that the economy was &#8220;<a href=\"https:\/\/www.foxnews.com\/politics\/biden-tells-reporter-economy-strong-hell-while-eating-ice-cream-portland\" target=\"_blank\" rel=\"noopener\">strong as hell.&#8221;<\/a><\/p>\n<p><a href=\"https:\/\/www.foxnews.com\/download\" target=\"_blank\" rel=\"noopener\"><strong><u>CLICK HERE TO GET THE FOX NEWS APP<\/u><\/strong><\/a><\/p>\n<div class=\"article-meta\">\n<div class=\"author-bio\">\n<p>Kristine Parks is an associate editor for Fox News Digital. Read more.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Treasury Secretary Janet Yellen blamed consumers&#8217; excessive spending habits as a primary cause for the near 40-year-high in inflation on Wednesday.The Biden official appeared on &#8220;The Late Show with Stephen<\/p>\n","protected":false},"author":1,"featured_media":1758346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[],"class_list":["post-1758343","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1758343","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1758343"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1758343\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1758346"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1758343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1758343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1758343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}