Janet Yellen Questioned About Biden Admin's Reckless Spending


Reasons why we have this problem right now is because the Federal Reserve printed so much money for so long and simultaneously the Biden administration handed out a third stimulus check along with multiple rounds of stimulus programs like the $1.2 trillion infrastructure plan to know where, along with the inflation reduction act of some 750 $1 billion that just created more inflation. I mean, you name it, they were there ready with a check, including to so many green energy companies, which by the way, SVB serviced. So there is some responsibility, believe me, I would say the bulk of the responsibility is on the federal government for the reckless spending and the reckless money printing that they engaged in over the last couple of years, and yet, when questioned by senator Scott Tim Scott, listen to what Janet Yellen says about this one. Well, this administration acknowledged that their reckless taxes spending contributed to not only the challenges that we see in everyday households, but also to challenges that we're facing today with SVB. Look, inflation is too high and it is the president's top priority to bring it down and there are many contributors to why inflation is too high. Importantly, fallout from the pandemic and Russia's war on Ukraine that boosted food and energy prices, many countries around the world. Suffer from the same problem. So she didn't really answer that one. All she said was inflation is high and it's because of all these other problems. No, no, no. Let me be very clear. Those other factors, Ukraine, et cetera, that certainly influence things as did your refusal to okay a bunch of fossil fuel contracts up until just the other day when reality finally set in and Biden had to go forward with the willow project in Alaska. But the main reason we have the inflation we have is because the federal government continued leaving the money spigot open for way too long way past the point of expiration. The

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