It has been quite the timeline for the Washington power players.
Inflation is not here.
If inflation is here, it will be small.
If inflation comes, it will be “transitory.”
If inflation is here, that is a great thing for the country!
Treasury Secretary Janet Yellen suggested that higher inflation, which would be counteracted by rising interest rates, would be positive for the nation.
Yellen, a former Chair of the Federal Reserve System, told Bloomberg News:
“If we ended up with a slightly higher interest rate environment it would actually be a plus for society’s point of view and the Fed’s point of view. We’ve been fighting inflation that’s too low and interest rates that are too low now for a decade.”
Yikes.
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