CNBC/Thomas Franck/3-11-2022
“Treasury Secretary Janet Yellen said Thursday that Americans will likely see another year of ‘very uncomfortably high’ inflation as Russia’s invasion of Ukraine muddles her prior forecast that price acceleration would moderate in the months ahead.”
USAGOLD note: It wasn’t that long ago (about the time Ramirez drew the cartoon above in late November) that the Treasury Secretary was telling us that inflation was transitory – not something to worry about. Now she conveniently blames inflation on the war in Ukraine, trundling aside the inflationary effect of trillions being printed to fight the pandemic and coincident economic slowdown.
