‘It’s all MY fault?!’ Yellen points fingers at infuriating new scapegoat for inflation

Treasury Secretary Janet Yellen informed late-night host Stephen Colbert that Americans are at least partially to blame for the inflation crisis crushing the middle class.

Perhaps pinning all the blame on Russian President Vladimir Putin and his war in Ukraine wasn’t panning out the way the White House thought it would. Now Yellen is claiming that American “splurging” is driving up prices.

“Can you explain how inflation got so high?”Colbert asked. “Because two years ago everything seemed fine, even in 2021 you and other members of the administration believed that inflation was a small risk. What happened, simply and clearly?”

“So we had a rapid recovery from the pandemic, when President Biden was elected, unemployment was quite high. It was close to seven percent,” Yellen explained. “So normally you wouldn’t expect, just because you have a rapid recovery, for inflation to rise very much if at all.”

“But it turns out the pandemic had very special impacts on the economy,” she continued. “Remember everybody stopped spending on services, 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- we’re suddenly working through technology.”

“And bottlenecks started developing where supply in important sectors of the economy just couldn’t keep up with demand.”

Oh, but the Putin narrative hasn’t completely died.

“And remember, Russia has conducted a brutal war against Ukraine and that caused gas prices to spike, it’s caused food prices to spike, it’s creating hardship all over the world and we’re really trying to address those strains as well,” she concluded.

Needless to say, Twitter users were not happy to be accused of fueling inflation by simply purchasing the bare minimum needed to get by during a global pandemic:

Republished with permission from American Wire News Service


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