Treasury Secretary Grilled On Biden Economy

( – During a conversation with the corporate press, Treasury Secretary Janet Yellen was forced to admit that prices of everyday goods like eggs, bread, and milk won’t be going back to pre-pandemic levels, despite the rate of inflation returning to normal. A corporate pundit asked Yellen why voters are focused on the economy and inflation if all these metrics quoted by Biden administration officials, like herself, are accurate.

The pundit highlighted low unemployment, low inflation, and economic growth while simultaneously asking why voters were still upset.

Yellen responded by explaining that the pandemic triggered profound difficulties for everyone. She also explained that working class Americans were economically struggling before economic shutdowns and medical mandates forced tens of millions to stop working or find another job.

Yellen also highlighted that housing is unaffordable for many Americans and the post-pandemic inflation has only exacerbated the problem. She claimed mitigating costs was a “top priority” of the Biden administration.

Yellen was reminded that while inflation rates are returning to normal, the prices of goods will not go down and costs have gone up 20-80% depending on the product. The price of eggs has been particularly inflated as various bird flu outbreaks have forced the destruction of many flocks to eliminate spread of the disease. Beef is up 30% with bread close behind, up 27% since Biden took office in 2020.

Yellen responded that wages have also increased and seemed to believe that wages were rising faster than the cost of goods. Naturally that will vary depending on individual circumstances. She claimed that the “typical American is somewhat better off.” Analysis has shown that Yellen is technically correct, but whether that matters to voters is another question.

Yellen was also asked about a recently floated idea from former President and GOP front-runner Donald Trump about eliminating the income tax and replacing it with tariffs. Yellen suggested that the idea would severely harm working class Americans and businesses while making many goods unaffordable.

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