Treasury Secretary Janet Yellen on Tuesday admitted to something most Americans have known for months: that she and other top officials last year wrongly assessed the rising inflation.
In 2021, Yellen said inflation posed only “a small risk.” She was among those who initially framed inflation as a temporary side effect of the economy returning to normal after the pandemic. She admitted Tuesday that she had failed to anticipate how long high inflation would last and how bad it would be.
NTD spoke with Vance Ginn, senior economist at the Texas Public Policy Institute, to learn more.
