4 Months ago Janet says inflation is a crises.. Now she says its not that bad. Oh i forgot she is a political hack and following the latest political line
United States Treasury Secretary Janet Yellen asserted on Friday that soaring inflation wasn’t “embedded” in the economy yet, noting research and investments into the chip industry would boost the expansion of US production capacities. Yellen told reporters at a technology business forum that she believes there are no signs medium-term inflation expectations are integrated into wages and consumer prices. However, she stressed the Biden administration needs to work more on bringing inflation down. Commenting on the $52 billion CHIPS and Science Act, Yellen argued that it would support the development of a US semiconductor ecosystem which will in turn prevent chip shortages and improve the country’s long-term economic outlook. NN: besides her asinine statement on inflation she forgot mention it will take 5 years to get the new semiconductor foundries built and in operation… Where do they find these idiots.