Treasury’s Yellen, After Years of Denials, Confesses That Biden’s Covid Relief Package Contributed to Inflation
Only by a ‘little bit,’ the outgoing economist insists, arguing that the spending was ‘really important.’
Treasury Secretary Yellen, after years of denying or ducking the issue, is conceding that President Biden’s Covid-19 stimulus package contributed to the soaring prices of the past four years but insists its impact was minimal.
In an interview with CNBC’s “Money Movers” Wednesday, Ms. Yellen insisted the surge in prices was caused primarily by the Covid pandemic. She said “huge supply chain problems” that left Americans struggling to find basic goods in stores are what “started pushing prices up a great deal.”
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