It almost goes without saying that the American economy is in very rough shape.
Years of disastrous monetary and fiscal policies from the ruling class elites in Washington, D.C. have completely destroyed America’s once thriving economy.
But jaws hit the floor after Janet Yellen made this shocking proclamation.
Joe Biden’s economy is days away from a total collapse
Over the last couple of years, President Joe Biden has completely destroyed the American economy with his poor fiscal and monetary policies.
His strategy is pretty simple – spend more now, spend even more later, and then eventually pay later by simply printing an endless supply of fiat currency.
This strategy has already caused inflation to soar, causing the federal reserve to incrementally raise interest rates. This kick-the-can down-the-road strategy can only work for so long.
Eventually, there will be no more road to kick the can down.
Many financial experts believe that point may be imminent.
However, Biden Treasury Secretary Janet Yellen does seem to be worried even one bit.
In response to several recent bank failures, including the notoriously “woke” Silicon Valley Bank, Secretary Yellen was asked to testify in front of the Senate Finance Committee.
During her testimony, Yellen incredulously said that “our banking system remains sound and Americans can feel confident that their deposits will be there when they need them. This week’s actions demonstrate our resolute commitment to ensure that depositors’ savings remain safe.”
“The President is doing all that he can — through the Inflation Reduction Act, lowering the cost of prescription drugs, lowering the cost of healthcare and using the strategic petroleum reserve — to try to lower and address higher gas and energy costs for Americans,” she added.
These comments prove that Secretary Yellen is only interested in deflecting blame and advancing President Biden’s radical left-wing agenda.
The Inflation Reduction Act that she mentioned has so far done nothing to help curb the sky-high inflation rates wreaking havoc on working class Americans’ wallets, and if anything, it simply heaped fuel on the fire.
Many experts believe that if interest rates are not increased in March, inflation will start soaring once again.
Instead of getting down to brass tacks during the Senate Finance Committee hearing, Yellen used her time to effectively campaign for Biden, who is in the midst of another major dip in his approval ratings.
Americans need more information about the future of their economy
Instead of trying to help her buddy Joe Biden out, Janet Yellen should focus on informing Americans of the hardships that are likely to come in the near future.
Many Americans aren’t able to pay their monthly bills without going into debt as is, never mind the position they would be in should the economy fall off a cliff.
Secretary Yellen’s refusal to tell Americans the truth is setting millions of Americans up for economic failure.
What happens over the next couple of weeks is vitally important for the future of the United States economy.
If interest rates are raised again it could have severe impacts on banks and lending, and if the Federal Reserve does not raise rates that could have a devastating impact on inflation.
No matter what, Americans will suffer as a result of Joe Biden’s terrible economic agenda.
US Political Daily will keep you updated on any developments to this ongoing story.
