Janet Yellen On Meet the Press
Janet Yellen was on Meet the Press Sunday morning in a fluffy interview touting Biden’s $4 trillion socialist proposal while downplaying any problems.
Chuck Todd let Yellen pump up Biden’s plan for well over three minutes before getting in a second question.
When Todd finally got in a word, he defended Biden’s plan “You just made a case these are investments and they are worthy of deficit spending.”
Tag Team Format
Yellen responded to Todd in tag team format that “Over the long haul deficits need to be contained”.
Over the the long haul deficits have not been contained for many decades but we keep pretending.
“Right”, “right”, “right” said Todd at least a ten times while nodding approval in the interview.
Inflation
Nearly six minutes into the interview Todd asked his first real question but it was struggle for him to get it out, noting the current jump in inflation was a “supply chain issue more than anything else.”
Yellen dismisses inflation with this line: “The spending that’s been proposed in the jobs plan comes into effect once the economy is back on track and the spending from the rescue plan that’s coming into force is spent. It’s spread out quite evenly over eight to 10 years so the boost to demand is moderate. The Federal Reserve has the tools to address inflation should it arise.”
Is Yellen Still on the Fed?
Seemingly forgetting she is no longer on the Fed, Yellen continued “We will monitor that very carefully. I don’t believe inflation will be an issue but if it becomes an issue we have tools to address it.”
Who is we?
What tools does the Treasury Secretary have or is Yellen still on the Fed?
Productivity
Yellen expects productivity to rise. “There will be great returns from investing in research and development and enabling families to participate with paid leave and child care support in the workforce.”
It’s widely understood that government spending, public unions, and government-sponsored programs in general increase productivity. Right?
Don’t worry, there are no concerns anyway until eight to ten years from now.
By then there will be another recession which no doubt will require still more socialist meddling to address.
Mish
“What tools does the treasury secretary have….?”
Investopedia:
“Treasury secretaries are part of the president’s cabinet and are fifth in the line of succession to the president.
Treasury secretaries are the primary economic advisor to the president and have a dramatic impact on various domestic and international policies.
The U.S. Department of the Treasury is responsible for all matters relating to fiscal policy in the United States. “
So in short that would probably mean increasing taxes to decrease the amount people are able to spend ?
Yellen talking as if she is still in the Fed reminded me of the scene from Mrs. Doubtfire where Robin Williams ends up sitting in front of his employer dressed as a woman!
Blame it on the revolving door! 🙂
I am not stating that I agree with Yellen but please look at the definition of “socialism” and tell me why the agenda is socialist.
How upset would Democratic Socialist AOC be if her Green New Deal was thrown in the trash can?
AOC voted the woman who said, “The green dream or whatever they call it, nobody knows what it is, but they’re for it right?” to be the Speaker of the House.
You think AOC cares what happens to the Green New Deal??!! ROTFL.
Remember – You cannot change the DONORcrat Party; the DONORcrat Party changes you.
I’m sure she would be upset if the GND was thrown in the trash can, just like the rest of her Socialist Democrat cohorts would be.
She voted for the person who trashed the Green New Deal, you fool! Can’t you read?!
I figured this was how it would be. The Fed and the US Treasury have been in cahoots for along time, it’s just far more obvious with Yellen. The difference between a Yellen and a Mnuchin or a Paulson, is just that Yellen is not personally a financial predator. But she’s an academic, which is just as bad in its own way.