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Commentary

Biden Throws His Own Official Under the Bus, Implies Treasury Secretary Isn't a 'Serious Economist'

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President Joe Biden and Treasury Secretary Janet Yellen are not seeing eye to eye on the future of inflation.

Following a speech on Monday, Biden attempted to ease concerns about rising inflation in the coming months.

“There’s nobody suggesting there’s unchecked inflation on the way, no serious economist,” he said, according to the Washington Examiner.

“Look, the stock market is higher than it has been in all of history.”

Well, Yellen certainly thinks differently.

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During an interview with CNBC reporter Sara Eisen on “Closing Bell” on Thursday, the secretary said that the current outlook is not positive.

“I think we will have several more months of rapid inflation,” Yellen said.

“So I’m not saying that this is a one-month phenomenon. But I think over the medium term, we’ll see inflation decline back toward normal levels. But, of course, we have to keep a careful eye on it.”

Does Biden not think Yellen is a serious economist? Perhaps, but they clearly do not publicly share the same view on the issue.

In June, consumer prices in the United States increased by 0.9 percent — the highest increase since 2008, Reuters reported.

The rise in prices is primarily due to the post-lockdown economic recovery, with everything from motor vehicles to groceries being impacted.

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Supply chains are dealing with the sudden surge in demand for goods, and those higher prices are being passed onto the average person.

“Food prices are getting higher, and we expect even more increases by October,” Red Apple Group CEO John Catsimatidis told Fox Business on Monday.

“You have to pass [those extra costs] on [to consumers] or you’re not doing your duty to God, your country, your employees and your company.”

Higher costs are already becoming a burden on American consumers, and it appears to only be getting worse.

The comments made by Biden just days after Yellen gave her analysis show that the White House is not being honest with the public about what is really going on economically.

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Cameron Arcand is a political commentator based in Orange County, California. His "Young Not Stupid" column launched at The Western Journal in January 2021, making Cameron one of the youngest columnists for a national news outlet in the United States. He has appeared on One America News, and has been a Young America's Foundation member since 2019.
Cameron Arcand is a political commentator based in Orange County, California. In 2017 as a school project, he founded YoungNotStupid.com, which has grown exponentially since its founding. He has interviewed several notable conservative figures, including Dave Rubin, Peggy Grande and Madison Cawthorn.

In September 2020, Cameron joined The Western Journal as a Commentary Writer, where he has written articles on topics ranging from the COVID-19 pandemic, the "Recall Gavin Newsom" effort and the 2020 election aftermath. The "Young Not Stupid" column launched at The Western Journal in January 2021, making Cameron one of the youngest columnists for a national news outlet in the United States. He has appeared on One America News, and has been a Young America's Foundation member since 2019.
Location
Orange County
Languages Spoken
English




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