David R. Malpass, President, World Bank Group; Kristalina Georgieva Managing Director, International Monetary Fund; Janet Yellen, U.S. Secretary of the Treasury. Photo: World Bank / Brandon Payne License.
You know inflation when you see it. You see it at the gas pump and the grocery store. You see it on the college tuition bill. You see it on vacation—if you can get there. Joe Biden can talk until he’s blue in the face about inflation. He can talk about meeting Fed Chairman Powell. But talk is cheap.
Actually, talk is anything but cheap. Talk is expensive. Because the closer team Biden gets to the midterms, the more the inflation tsunami builds, washing over the electorate, encouraging a wave of record voter turnout. In my conversations with you, you’re telling me about lifelong Democrats in your own family who are saying things like, “We’ve got to do something about inflation. This isn’t a joke.”
Some Lessons You Just Can’t Get from a Textbook
Forget politics. When it comes to inflation, you vote with your pocketbook. When it comes to inflation, you need to take care of your family. It’s not the time to become political—it’s about your family. Build back better? Please, not a chance.
In March 2021, Treasury Secretary Janet Yellen told ABC “Is there a risk of inflation? I think there’s a small risk, and I think it’s manageable.” Then in May of 2021 she told The Wall Street Journal, “I don’t anticipate that inflation is going to be a problem. But it is something that we’re watching very carefully.”
Now that inflation has proven to be unmanageable and it is obvious Yellen and the Fed were not “watching very carefully,” the Treasury Secretary told CNN’s Wolf Blitzer “I think I was wrong then about the path that inflation would take.” You think?
WWYSG? (What Would Your Survival Guy Do?): Call for Janet Yellen’s resignation, for starters. She stoked this fire.
Action Line: You’d think a president looking to get re-elected would pivot. And yet Team Biden digs in deeper. Who votes on inflation? We do. Let’s Go.
Originally posted on Your Survival Guy.
