Sec. Yellen: ‘We Don’t Have to Get the Prices Down Because Wages Are Going Up’

RUSH TRANSCRIPT Get a ░░░░░░░░ raise you are screwed ░░░░░░░░ is a difference between ░░░░░░░░ and deflation Disinflation which ░░░░░░░░ am happy to have ░░░░░░░░ means inflation is going ░░░░░░░░ It means prices are ░░░░░░░░ less rapidly than they ░░░░░░░░ But that is a ░░░░░░░░ cry from deflation which ░░░░░░░░ the level of these ░░░░░░░░ prices caused by Bidenomics ░░░░░░░░ here to stay Here ░░░░░░░░ what Powell said on ░░░░░░░░ 4th he was asked ░░░░░░░░ question Inflation is one ░░░░░░░░ prices are another I ░░░░░░░░ if there is any ░░░░░░░░ to believe that people ░░░░░░░░ see the prices decline ░░░░░░░░ is what Chairman Powell ░░░░░░░░ The prices of some ░░░░░░░░ will decline others will ░░░░░░░░ up But we do ░░░░░░░░ expect to see a ░░░░░░░░ in the overall price ░░░░░░░░ That does not tend ░░░░░░░░ happen in economies except ░░░░░░░░ very negative circumstances He ░░░░░░░░ talking about a recession ░░░░░░░░ will take a recession ░░░░░░░░ get the prices down ░░░░░░░░ down because wages are ░░░░░░░░ up And a metric ░░░░░░░░ is worth knowing is ░░░░░░░░ the median American house ░░░░░░░░ We need to get ░░░░░░░░ prices down Chicken is ░░░░░░░░ 23 5 coffee is ░░░░░░░░ 30 gasoline is up ░░░░░░░░ and new cars and ░░░░░░░░ are up 20 because ░░░░░░░░ that is used cars ░░░░░░░░ cannot afford a new ░░░░░░░░ and you don t ░░░░░░░░ we need to get ░░░░░░░░ prices down Are not ░░░░░░░░ 23 People are really ░░░░░░░░ they are barely getting ░░░░░░░░ because of Bidenomics Many ░░░░░░░░ on their budget And ░░░░░░░░ Biden is devoted to ░░░░░░░░ what we can in ░░░░░░░░ administration whether it is ░░░░░░░░ care costs insulin co ░░░░░░░░ energy costs in getting ░░░░░░░░ prices down and helping ░░░░░░░░ households afford a decent ░░░░░░░░ class life But what ░░░░░░░░ true the median worker ░░░░░░░░ the United States compared ░░░░░░░░ with 2019 they can ░░░░░░░░ the same basket of ░░░░░░░░ with 1400 left over ░░░░░░░░ save or spend Americans ░░░░░░░░ average are better off ░░░░░░░░ spite of the fact ░░░░░░░░ the level of prices ░░░░░░░░ higher.