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Treasury Sec. Janet Yellen doesn't know why Americans have no confidence in the economy: 'I don't have a simple and convincing answer'
Image via MSNBC / YouTube (screenshot)

Treasury Sec. Janet Yellen doesn't know why Americans have no confidence in the economy: 'I don't have a simple and convincing answer'

Treasury Secretary Janet Yellen boasted about what she called a "remarkable recovery" of the United States post-COVID but was unable to answer why Americans do not feel confident in the economy.

Yellen appeared on MSNBC's "Morning Joe" and was asked by host Katherine Kay to explain why Americans are untrusting of the government's spending.

"Madam Secretary, I want to go back to the rosy picture that you just painted of the U.S. economy with inflation coming down and unemployment coming down," Kay began. "The riddle that the White House is finding so befuddling, which is, with those good numbers, why polling amongst the American people [is] so pessimistic about the economy," she continued.

"I wonder if it is because they've been through a period of inflation; they fear inflation may come back again, those high oil prices Mika [Brzezinski] was talking about, the forecasting slower growth, 1.3% for the U.S. ... There seems to be a disconnect between the numbers we are seeing and the way people are feeling about the economy. ... How do you account for it?"

"I agree with you there's a disconnect, and I don't have a simple and convincing answer," Yellen replied. The treasury secretary then embarked on a three-and-a-half minute diatribe boasting the Biden administration's alleged economic successes but predominantly blamed "high inflation," "supply bottlenecks," and the Russia-Ukraine war for a surge in gas and food prices.

"The pandemic really took a toll on American families, on children, on households. We are enjoying a remarkable recovery," Yellen claimed.

Yellen also made the bold claim that Americans made financial improvements during the COVID-19 lockdowns.

"[Americans] do realize in polls that [inflation] is coming down and Americans' financial situation actually improved during the pandemic. Interestingly, when Americans are asked about their own personal financial situation, they're positive on that."

The government official bragged about "bipartisan infrastructure" spending and a "semiconductor and chips bill" that she claimed is leading to "massive investments in clean energy."

Yellen has been making more headlines than the Democratic Party is likely comfortable with lately; in mid-August 2023, Yellen explained how she ingested hallucinogenic mushrooms while on a trip to China.

Earlier that month, the U.S. government’s long-term credit rating declined from AAA to AA+, much to Yellen's dismay.

This came after Yellen issued more than $1.3 trillion in debt during the first half of 2023, putting the country on pace for a nearly $3.2 trillion debt issuance in just one year. That would approximately double the 2022 rate.

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