Is Janet Yellen a callous millionaire who feels no pain from inflation — or just a liar?
By
Post Editorial Board
Published June 26, 2024, 7:29 p.m. ET

Janet Yellen might actually have been telling the truth Monday when she claimed she isn't shocked by skyrocketing grocery prices.REUTERS
Janet Yellen might actually have been telling the truth Monday when she claimed she isn’t shocked by skyrocketing grocery prices.

After all, the Treasury secretary is a multimillionaire — maybe she really doesn’t feel the squeeze.

“Have you been to the grocery store lately?” Yellen was asked. “It’s sticker shock, isn’t it?”

Yes, she replied, she hits the grocery every week — but no, she doesn’t see any sticker shock.

Setting aside all doubts about how often she really shops for much, Yellen’s worth an estimated $20 million; no surprise if she’s oblivious to the price of milk and meat.

Then again, Yellen might simply be lying — as she did straight-faced for most of 2021, claiming inflation was just “transitory.”

Remember: She was a prime driver of Bidenflation, earnestly singing the praises of the Biden team’s nearly $4 trillion in new outlays, through such bills as the American Rescue Plan Act ($1.8 trillion) and the Infrastructure investment and Jobs Act ($765 billion).

She also played a huge role in fueling long-term inflation as a top Federal Reserve policymaker from 2010 through 2018, when the Fed flooded the economy with $4 trillion created from thin air through a process called “quantitative easing.”

All of which is excellent reason to ignore her noise now about how inflation will be back to 2% a month or two after Election Day.

Meanwhile, regular Americans’ jaws drop every time they hit the grocery store: Eggs are up more than 40% since Biden took office; meat, nearly 30%.

Multimillionaires like Yellen can claim that’s not sticker shock, but not low- and middle-income shoppers struggling to make ends meet.

Remember, inflation-adjusted incomes have fallen 3.9% under Biden.

Whether the president’s minions feel no pain or just pretend not to, everyone else clearly does.

 

But that's classic despicable.
If it doesn't fit the agenda, ignore it, demonize it, or deny it.
But never, ever let it change your world view.
That, you see, would require admitting that your world view was wrong.
And that way lay monsters!