US Treasury Secretary Janet Yellen ripped for inflation misread: ‘Really disappointed,’ Rep. Kustoff says
Yellen admitted she was 'wrong' about path inflation would take
Rep. David Kustoff, R-Tenn., called out Treasury Secretary Janet Yellen for becoming a "political hack" on "Mornings with Maria" Wednesday, claiming she knew Biden's spending would heighten inflationary pressures.
BIDEN'S INFLATION PLAN CALLS ON THE FED, CONGRESS TO ACT, SHOWING LIMITS OF EXECUTIVE RESPONSE
REP. DAVID KUSTOFF: I'm really disappointed in Janet Yellen because she is much smarter than that. And she came with other administration officials to advocate for this stimulus, the $1.9 trillion bill in March for the transportation and the infrastructure bill in November. And she knew the inflationary pressures that would result. Lawrence Summers told her, I asked her about that in the committee, and it's almost like she's become a political hack. And I'm sorry to say that.
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She's very smart. She's educated, as you said, been chairman of the Federal Reserve. She knew the challenges and she let the administration hacks, those political people in the White House, push her to say those things and to advocate. But in the end, and I'll remind you on the stimulus back in March of last year, there was not one Republican, not one Republican in the House, not one Republican in the United States Senate, not a Romney, not a nobody, that voted for it. But she did convince those moderate Democrats to vote for it. And as a result, we're experiencing the highest inflation that we've seen in 40 years.
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