{"id":1772904,"date":"2022-12-12T17:49:03","date_gmt":"2022-12-12T22:49:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1772904"},"modified":"2022-12-12T17:49:06","modified_gmt":"2022-12-12T22:49:06","slug":"yellen-predicts-much-lower-inflation-in-2023-shes-usually-wrong","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/yellen-predicts-much-lower-inflation-in-2023-shes-usually-wrong\/","title":{"rendered":"Yellen Predicts \u2018Much Lower Inflation\u2019 in 2023. She\u2019s Usually Wrong."},"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\">20<\/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-predicts-much-lower-inflation-in-2023-shes-usually-wrong%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=1772904&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> <a class=\"\" href=\"https:\/\/freebeacon.com\/biden-administration\/\">Biden Administration<\/a> <\/p>\n<p class=\"article-excerpt\">&#8216;I don\u2019t think we\u2019re about to lose control of inflation,&#8217; Yellen said last year, before US lost control of inflation<\/p>\n<p>    Janet Yellen \/ Getty Images   <a href=\"https:\/\/freebeacon.com\/author\/philip-caldwell\/\" title=\"Posts by Philip Caldwell\" class=\"author url fn text-red-700\" rel=\"author\">Philip Caldwell<\/a> \u2022 December 12, 2022 5:30 pm  <\/p>\n<p>Treasury secretary Janet Yellen said Sunday that she expects &#8220;much lower inflation&#8221; within the next year. But the Cabinet appointee has been consistently\u2014and baselessly\u2014optimistic about inflation since she joined the Biden administration.<\/p>\n<p>&#8220;I believe by the end of next year you will see much lower inflation, if there&#8217;s not an unanticipated shock,&#8221; Yellen <a href=\"https:\/\/www.cbsnews.com\/news\/treasury-secretary-janet-yellen-recession-inflation-war-in-ukraine-2022-12-11\/\" target=\"_blank\" rel=\"noopener\">said<\/a> in a Sunday appearance on <em>60 Minutes<\/em>. The secretary cited reductions in shipping costs and delivery lags as evidence that high prices will soon be in the rearview.<\/p>\n<p>Yellen made virtually the same prediction last year, when inflation was at a troubling 5.4 percent. &#8220;I don\u2019t think we\u2019re about to lose control of inflation,&#8221; Yellen said in October 2021, suggesting the resolution of supply chain issues would tame inflation within a year. By June 2022, however, inflation had <a href=\"https:\/\/www.politico.com\/news\/2022\/07\/13\/us-inflation-new-40-year-high-june-00045541\" target=\"_blank\" rel=\"noopener\">surged<\/a> to a 40-year high of 9.1 percent.<\/p>\n<p>In May 2021, less than two months after Congress passed the $1.9 trillion American Rescue Plan, Yellen <a href=\"https:\/\/www.reuters.com\/article\/usa-fed-yellen-idINKBN2CM072\" target=\"_blank\" rel=\"noopener\">predicted<\/a> there wasn&#8217;t &#8220;going to be an inflationary problem&#8221; at all because President Joe Biden&#8217;s spending plans were &#8220;relatively small relative to the size of the economy,&#8221; an argument that put her in lockstep with White House officials. Economists, however, have <a href=\"https:\/\/freebeacon.com\/biden-administration\/this-study-shows-how-bidens-stimulus-contributed-to-inflation\/\" target=\"_blank\" rel=\"noopener\">concluded<\/a> that the American Rescue Plan significantly contributed to inflation.<\/p>\n<p>Yellen offered a mea culpa for her inaccurate predictions in June, <a href=\"https:\/\/www.ny1.com\/nyc\/all-boroughs\/politics\/2022\/06\/01\/treasury-secretary-janet-yellen---i-was-wrong--about-inflation#:~:text=8.3%25%20in%20April-,In%20an%20interview%20with%20CNN%2C%20Yellen%20said%3A%20%E2%80%9CI%20think,didn%27t%20at%20the%20time%20%E2%80%A6\">admitting<\/a> she &#8220;was wrong \u2026 about the path that inflation would take.&#8221;<\/p>\n<p>Biden was similarly unsuccessful in accurately predicting inflation rates. The president in July 2021 <a href=\"https:\/\/freebeacon.com\/biden-administration\/biden-inflation-flashback-video\/\" target=\"_blank\" rel=\"noopener\">declared<\/a> that &#8220;no serious economist&#8221; is &#8220;suggesting there&#8217;s unchecked inflation on the way.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Treasury secretary Janet Yellen said Sunday that she expects &#8220;much lower inflation&#8221; within the next year. But the Cabinet appointee has been consistently\u2014and baselessly\u2014optimistic about inflation since she joined the Biden administration.<br \/>\nThe post Yellen Predicts \u2018Much Lower Inflation\u2019 in 2023. She\u2019s Usually Wrong. appeared first on Washington Free Beacon.<\/p>\n","protected":false},"author":160,"featured_media":1772907,"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":[544],"tags":[8282,8016,4092,5708,5713,8281,7058,5286],"class_list":["post-1772904","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-free-beacon","tag-much","tag-8016","tag-beacon","tag-inflation","tag-predicts","tag-shes","tag-wrong","tag-yellen"],"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\/1772904","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\/160"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1772904"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1772904\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1772907"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1772904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1772904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1772904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}