Janet Yellen regrets saying inflation was transitory

Treasury Sec. Janet Yellen has noted that she regrets saying that inflation was transitory.

“I regret saying it was transitory,” she said. “It has come down,” she added, while noting that she thinks that to most individuals, transitory means just several weeks or months.

In response to the clip of Yellen’s comments, GOP Sen. Bill Hagerty of Tennessee noted in a post on X, “After this and claiming ‘the border is secure’ for 3 years, my question is: What is the Biden Admin saying now that, in a couple of years, even they will have to admit is untrue?”

“Her regret should be helping President Biden *cause* the inflation with trillions in reckless spending,” GOP Sen. Tom Cotton of Arkansas tweeted.

“I’m ready to retire the word transitory,” Yellen said back in December 2021, noting that it “hasn’t been an apt description of what we are dealing with.”

According to the consumer price index report released on Tuesday, “The all items index rose 3.2 percent for the 12 months ending February, a larger increase than the 3.1- percent increase for the 12 months ending January. The all items less food and energy index rose 3.8 percent over the last 12 months. The energy index decreased 1.9 percent for the 12 months ending February, while the food index increased 2.2 percent over the last year.”

President Joe Biden claimed in a statement, “My top economic priority is lowering costs and today’s report shows we continue to make progress on that front.”

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