November 4, 2022
Her job on the line, Janet Yellen claims 'no recession'
By Monica Showalter
Ordinarily, Joe Biden and Kamala Harris can manage the job themselves of gaslighting the voters on the glories of the U.S. economy as midterms approach. One expects this sort of thing from this pair because they are economic illiterates.
But it's not just them making absurd statements about how great this economy is. Their Treasury Secretary, Janet Yellen, supposedly a respected economist, has been spouting their nonsense in recent days, too.
A few days ago, she said this, according to Breitbart News:
During portions of an interview with CNN aired on Thursday’s broadcast of “OutFront,” Treasury Secretary Janet Yellen stated that she doesn’t see indications of a recession in the American economy right now, the Biden administration isn’t getting credit for economic problems avoided by its actions, and people should be patient as they wait for the results of the Biden administration’s policies.
Yellen stated, “I don’t see signs of a recession in this economy at this point.” And “We have unemployment at a 50-year low. There are two job vacancies for every American who is looking for work. We have solid household finances, business finances, banks that are well-capitalized, and we’ve been creating, [on] average, 300,000 jobs a month.”
She also said that over the medium term, “we have [a] historic investment in the strength of our economy, the passage of three very important bills.”
Yellen also argued that due to a rapid economic recovery, there are “problems we don’t have because of what the Biden administration has done. So, often one doesn’t get credit for problems that don’t exist.”
It makes one wonder what's gotten into her. No recession? Consumer finances in good shape? Biden's big government spending an "investment"?
She's supposed to be a respected economist. She sounds like a political hack.
But that goes against the conventional wisdom about her.
more
https://www.americanthinker.com/blog/2022/11/her_job_on_the_line_janet_yellen_claims_no_recession.html
