Treasury Secretary Janet Yellen on Wednesday evening blamed Americans for record-high inflation.
It isn’t Joe Biden’s fault for spending trillions of dollars in the last year-and-a-half.
It isn’t the Democrats’ fault for passing trillions in spending through the reconciliation (no GOP votes needed).
The real reason for inflation is because Americans ‘splurging’ on goods.
“They were in their homes for a year or more, they wanted to buy grills and office furniture, they were working from home, they suddenly started splurging on goods, buying technology,” Yellen said on Stephen Colbert’s late night show.
The Treasure Secretary said the bottlenecks created supply chain issues.
Yellen also blamed Russia for soaring gas prices and high food prices.
Don't blame the Biden Admin printing trillions of dollars: @SecYellen tells @StephenAtHome the real reason inflation is out of control is because Americans are "splurging" on goods; "and, remember, Russia has conducted a brutal war against Ukraine" pic.twitter.com/d0xbhA7sbH
— Tom Elliott (@tomselliott) December 1, 2022