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Yellen Admits It:  Inflation is ‘Unacceptable’

The following article, Yellen Admits It:  Inflation is 'Unacceptable', was first published on Flag And Cross.

The American people have long understood that the dream of an honest politician may be long gone, dead to the world in a profound and predictable way.

We know now that we need someone who’s a bit of a weasel in our corner.  After all, there are plenty of other varmints out there on the other side.  It breeds disdain, sure, but it also makes the rare moments of clarity all the more remarkable.

Take, for instance, this week’s sudden admission from one of our nation’s most important economic advisers.

U.S. Treasury Secretary Janet Yellen told senators on Tuesday that she expected inflation to remain high and the Biden administration would likely increase the 4.7% inflation forecast for this year in its budget proposal.

During a Senate Finance Committee hearing, Yellen said that the United States was dealing with “unacceptable levels of inflation,” but that she hoped price hikes would soon begin to subside.

U.S. Consumer Price Index inflation has been tracking above 8% in recent months, the highest readings in over 40 years and well above President Joe Biden’s administration’s forecast for its fiscal 2023 budget.

The admission follows a string of similarly humble suggestions by the administration, that have appeared in such rapid succession that coordination between them is likely. This, of course, gives the appearance of the administration employing this apology tour as a political stunt, and thus diminishing the truth within them.

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