Thursday, June 02, 2022
I Was Wrong.
The Treasury secretary, Janet Yellen, is now saying she was wrong about inflation. It's refreshing to hear a Washington politician admit an error. They are more human and believable. Yellen in her small defense could not foresee the continuation of the pandemic and the Ukraine war. The administration, albeit late, is pressing hard on rising prices and giving the Federal Reserve leeway to stamp it out. Biden is still hoping rising interest rates won't tip the economy into recession, but there is a slim chance of that succeeding. Biden's time in office has been one calamity after another. No President should have to live through that.
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