Janet Yellen: The Typical Wage Earner Is Able to Afford Now the Same Basket of Goods and Services as Back Before the Pandemic

COLBERT Secretary Yellen good ░░░░░░░░ see you again Thanks ░░░░░░░░ being here Are you ░░░░░░░░ for this Yellen I ░░░░░░░░ ready COLBERT I m ░░░░░░░░ out hot and hard ░░░░░░░░ here we go On ░░░░░░░░ will be the dramatic ░░░░░░░░ of the Biden Administration ░░░░░░░░ a bit of a ░░░░░░░░ ending Are you sad ░░░░░░░░ leave Are you ready ░░░░░░░░ relax What are you ░░░░░░░░ to do Yellen Well ░░░░░░░░ s bittersweet I have ░░░░░░░░ wonderful team We have ░░░░░░░░ so well together and ░░░░░░░░ m going to really ░░░░░░░░ them We will all ░░░░░░░░ one another But we ░░░░░░░░ proud of what we ░░░░░░░░ been able to accomplish ░░░░░░░░ the economists said the ░░░░░░░░ S economy is the ░░░░░░░░ of the world Cheering ░░░░░░░░ Applause It s firing ░░░░░░░░ all cylinders COLBERT Why ░░░░░░░░ you think this past ░░░░░░░░ made it clear that ░░░░░░░░ 9 of American voters ░░░░░░░░ t agree with you ░░░░░░░░ don t agree with ░░░░░░░░ economists and that the ░░░░░░░░ was according to polling ░░░░░░░░ of the biggest reasons ░░░░░░░░ people put Donald Trump ░░░░░░░░ into office Why do ░░░░░░░░ think that message about ░░░░░░░░ good economy as you ░░░░░░░░ the best economy in ░░░░░░░░ world right now especially ░░░░░░░░ the advanced nations came ░░░░░░░░ of Covid in the ░░░░░░░░ shape regards of our ░░░░░░░░ Could you have been ░░░░░░░░ better cheerleader for the ░░░░░░░░ Yellen Well tried and ░░░░░░░░ to explain why we ░░░░░░░░ doing the best we ░░░░░░░░ We did see a ░░░░░░░░ increase in prices something ░░░░░░░░ 20 increase in the ░░░░░░░░ price level over about ░░░░░░░░ years Now every advanced ░░░░░░░░ saw exactly the same ░░░░░░░░ When Russia invaded Ukraine ░░░░░░░░ prices rose food price ░░░░░░░░ were associated with that ░░░░░░░░ was a shock to ░░░░░░░░ and it came on ░░░░░░░░ of a long period ░░░░░░░░ which people have been ░░░░░░░░ struggling with high housing ░░░░░░░░ high healthcare costs energy ░░░░░░░░ bills childcare making so ░░░░░░░░ people feel it s ░░░░░░░░ to lead a middle ░░░░░░░░ life Now when I ░░░░░░░░ at the data what ░░░░░░░░ tells me is that ░░░░░░░░ also increased According to ░░░░░░░░ calculations the typical wage ░░░░░░░░ is able to afford ░░░░░░░░ the same basket of ░░░░░░░░ and services as back ░░░░░░░░ the pandemic with 1600 ░░░░░░░░ over to save or ░░░░░░░░ So the typical worker ░░░░░░░░ better off.”
(Applause)