Joe Biden’s Treasury Secretary Janet Yellen recently claimed that the United States is doing ‘extremely well, economically.’
Is she seeing a reality that the rest of the country doesn’t know about? Food and gas prices are still ridiculously high and millions of Americans are struggling to get by.
She also claimed that inflation is falling. That will be news to lots of people.
Yellen Doesn’t Foresee a Downturn in US Economy
U.S. Treasury Secretary Janet Yellen on Tuesday said she remained vigilant to downside risks facing the global economy, given Russia’s ongoing war against Ukraine and banking pressures, but the overall outlook was “reasonably bright.”
Yellen, speaking at a news conference, pushed back against warnings by the International Monetary Fund of bigger risks associated with severe financial tensions.
“I wouldn’t overdo the negativism about the global economy,” Yellen said, when asked about a slightly trimmed IMF global growth forecast for 2023 which warned that a flare-up of financial system turmoil could slash output to near recessionary levels. “I think we should be more positive.”
Yellen said she had not seen evidence suggesting a squeeze in credit after two U.S. bank failures last month, although that was a possibility. She said the U.S. banking system remained sound, with strong capital and liquidity positions, and the global financial system is resilient due to the significant reforms enacted after the 2008 financial crisis.
“The U.S. economy is obviously performing exceptionally well with continued solid job creation, inflation gradually moving down, robust consumer spending,” she said. “So I’m not anticipating a downturn in the economy, although, of course, that remains a risk.”
See the video below:
‘I think the outlook is reasonably bright,’ said US Treasury Secretary Janet Yellen while speaking about the global economy at a news conference, adding that it was in a better place than projected last fall https://t.co/TySo1Yk0bm pic.twitter.com/eNMRq7MWEi
— Reuters (@Reuters) April 12, 2023
The Biden administration is not living in the same world as average Americans.
This is proof.