“The stock market — I don’t take as a reflection of the underlying strength of the economy,” Yellen stated. “I think the U.S. economy has been remarkably resilient. And when you think of all the shocks that have afflicted the U.S. and the global economy, the pandemic, now the war, Russia’s war in Ukraine, commodity price increases, supply chain issues, the U.S. labor market is doing extremely well. And frankly, I take that as the strongest indication of how the economy is doing, and we have continued to create jobs and are back above pre-pandemic levels in terms of output. So, I think the U.S. economy has been very resilient in the face of an enormous set of shocks.”
This is all malarkey designed to obfuscate the truth that the Biden administration — not the Russian invasion of Ukraine — has been disastrous for the American economy, and Americans know it.
Asked if the record inflation was going to get worse, she replied, “Well, it may have peaked, but, look, you know, inflation has been high. And I think the shocks emanating from this unjustified attack on Ukraine will prolong inflationary pressures,” she replied. “So, the outlook is uncertain. As you know, the Fed is taking steps to bring inflation down, but I think we will have to put up with high inflation for a while longer.”
More malarkey. The Biden administration has no intention of bringing inflation down. Their aim is to crash the system.