By Free Republic | Created at 2024-10-04 13:07:17 | Updated at 2024-10-04 15:20:10
2 hours ago
Yellen: Stimulus Added to Demand in ‘Supply-Constrained’ Areas, ‘May Have Played a Little Bit of a Role’ in Inflation
Breitbart ^ | 10/04/2024 | Ian Hanchett
Posted on 10/04/2024 5:59:59 AM PDT by ChicagoConservative27
During an interview with CNN’s “Axe Files” podcast released on Thursday, Treasury Secretary Janet Yellen said that the spending in the American Rescue Plan “added to the demand in areas that were supply-constrained, and so, may have played a little bit of a role” in inflation.
Yellen said, [relevant remarks begin around 43:35] “We never would have seen that inflation just because of the demand that was created. It was the supply shock created by the pandemic, the fact that you couldn’t get semiconductors to produce cars, that we had auto factories that had to close that caused prices to spike. Now, the fact that incomes were supported and people had money to buy say, cars or consumer durables when they were shut in, that added to the demand in areas that were supply-constrained, and so, may have played a little bit of a role. But the major problem was supply disturbances, shutdowns of factories in China, container ships that were unable to unload their goods, it would take weeks before they could unload goods at ports, huge shifts in demand away from services — going out to eat, traveling, and the like — to goods that were in short supply. It was a very unique situation.”
(Excerpt) Read more at breitbart.com ...
TOPICS: Business/Economy; Culture/Society; News/Current Events; Your Opinion/Questions
KEYWORDS: demand; inflation; stimulus; yellen
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Wow she is stupid
To: ChicagoConservative27
Oh...Look!!!!....squirrel!! er, I mean a Jekyll Island creature
2 posted on 10/04/2024 6:02:45 AM PDT by lgjhn23 ("On the 8th day, Satan created the progressive liberal to destroy all the good that God created..." )
To: ChicagoConservative27
The dumb a** politicians locked everything down.......and scarf lady promised us 14 days...and it's over. And I believe that was before any vaccine was even in their playbook.
The states had waaaaaay too much power.
3 posted on 10/04/2024 6:06:41 AM PDT by Sacajaweau (mY)
To: ChicagoConservative27
You’re America’s bean counter czar and all you’ve got is “MAY HAVE” played a role in inflation? What else do you do for a living?
4 posted on 10/04/2024 6:07:01 AM PDT by FlingWingFlyer (The Jamaican/Injun "immigration" plan. Dilute and pollute until America is a third world sewer..)
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