While the purchasing power of the dollar is falling, Janet Yellen emphasizes that pandemic is in charge for the economy, inflation - economics

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While the purchasing power of the dollar is falling, Janet Yellen emphasizes that pandemic is in charge of the economy and inflation

Inflation has increased the prices for goods and services in America, since the purchasing power of the US dollar is no longer what it was once. In the meantime, the former Obama government's former economic advisor, Larry Summers, recently said to the press: "We will experience an inflation that we have not seen for 30 years." Despite the dark forecasts, the White House does not believe this predictions and US Finance Minister Janet Yellen blames the Covid pandemic for inflation.

former Obama economic advisor forecasts an increase in glowing hot inflation - the White House rejects the idea that infrastructure funds will keep inflation running

The Americans give up more and more dollars to pay petrol, rent, houses, food, medical care, medication, vehicles and more since the US government has never expanded the money supply in history. President Joe biden seems to think that the Tillion-dollar infrastructure calculation contribute to alleviating inflation, even if economists doubt this prediction. in conversation with CNN said Larry Summers, the American economist, who is a 71st US Minister Experience inflation that we have not seen it for 30 years. ”

, however, when the press spokeswoman for the White House, Jen Psaki, from an NBC journalist who repeatedly urged her, asked about the increase in inflation, the secretary rejected such predictions. Fox News-actor Joe Concha made funny and : "There is too many economics, To count them, who say that trillions of new editions only increase inflation.

Finance Minister Yellen makes Covid pandemic responsible for inflation

While economists predict a decline in US economy, says US finance minister Janet Yellen The press on Sunday that the inflation is America due to Covid-19. "It is important to see that the cause of this inflation is pandemic," said Yellen. "This led to a dramatic increase in demand for products," she continued. "And although the range of products in the USA and worldwide has increased, not as strong as demand."

While the purchasing power of the dollars sinks, emphasizes that Pandemy for the economy and inflation has the saying Janet Yellen spoke on Sunday and told the CBS channel that the CORONAVIRUS pandemia Inflation is responsible.

Gold bug and economist Peter Schiff mocked Yellen's statements about Covid-19 that caused inflation. In a tweet, ship emphasized that he believes that the Federal Reserve is responsible for loss of purchasing power. "According to Yellen, inflation resulted in a dramatic increase in consumer demand for the purchase of products," said Schiff . "But where did consumers get the money from to buy these products? From the government, who in turn got the money from the Fed. The Fed caused inflation."

When Yellen spoke on Sunday, she did not get involved in the highly imposed government mandate that the US government has enforced in the past two years. American officials have closed business across the country, created terms such as "important workers", worked out vaccination mandate, forced a rental moratorium for well more than 16 months and more in America's money supply than in the first three quarters of the country in less than two years.

On Sunday, Yellen's statements in the CBS program "Face the Nation" point out that she believes that the virus and not the central planners have the rule over the US economy. "Pandemic is in charge of the economy and inflation," concluded Yellen. "And if we want to lower inflation, I think that it is the most important thing to continue to proceed the pandemic."

The President of the FED of Minneapolis also blames and the Covid virus-bidden consultants mentioned that the vaccination of children will "comfort" American families

on the day before Yellen talked about CBS, said the President of Minneapolis Federal Reserve Bank, Neel Kashkari, explains that inflation will probably continue to increase in the next few months. "Mathematics suggests that we will probably see somewhat higher values ​​in the next few months before they are likely to let up," said Kashkari. Similar to Yellen, Kashkari emphasized that supply chain problems and the coronavirus pandemic were the main reasons for the ongoing inflation.

"We see both an increase in demand because the congress gave families and companies a lot of money to survive the pandemic, but at the same time we also see supply interruptions due to the covid virus," Kashkari remarked.

The director of the National Economic Council under President Joe Biden, Brian Deese, that the fighting of Covid would help reduce inflation. When the correspondent of ABC News, George Stephanopoulos, deese asked whether "es" [is] everything that President can do "to combat inflation, deese answered:" Number one: "We have to be able to send this recordings to 5- to 11 year old American families offer a lot of consolation. “

What do you think of the increasing inflation in America and the different views of the loss of purchasing power of US officials and economists? Let us know your opinion on this topic in the comments below.

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