Joe Biden’s Presidency has gone completely off the rails.
He can’t even count on members of his administration anymore.
And a top Biden official admitted defeat with a sentence no one saw coming.
Joe Biden crippled the country by unleashing the worst inflation in the past 40 years.
After Biden entered office, he proceeded to go on a debt-financed socialist spending spree.
As inflation skyrocketed, the Biden regime has tried to lie and spin their way out of the problem they created.
One the first lies trotted out by the Biden administration was that inflation would only be “transitory” or temporary.
However, month after month of soaring inflation quickly punched a hole in the “transitory” narrative.
After previously serving as Chair of the Federal Reserve, Treasury Secretary Janet Yellen was supposed to be one of the most-qualified officials in the regime.
Yellen repeatedly downplayed the threat of inflation in the aftermath of Biden’s spending spree.
A year ago, she told the Wall Street Journal that “I don’t think there’s going to be an inflationary problem.”
But after her inflation predictions turned out to be completely wrong, Yellen just made a stunning admission.
CNN made the shocking move of confronting Yellen about her botched predictions on inflation.
“Is there a risk of inflation? I think there’s a small risk, and I think it’s manageable,” Yellen said in a clip from March of 2021.
“I don’t anticipate that inflation is going to be a problem,” Yellen said in another clip from May of 2021.
“Was it a mistake, Madam Secretary, to downplay this inflation risk?” the host asked Yellen. “Did that contribute to the problems we’re all seeing right now?”
“I think I was wrong then about the path that inflation would take,” Yellen replied.
After a year of downplaying the threat of inflation and carrying water for the regime’s deception, Yellen is publicly admitting failure.
This is a shocking turn of events for Yellen to show up on CNN and admit she was wrong.
But even after admitting she got it wrong, Yellen tried to work in a lame excuse for this massive failure.
“As I mentioned, there have been unanticipated and large shocks to the economy that have boosted energy and food prices, and supply bottlenecks that have affected our economy badly, that I at the time didn’t fully understand. But we recognize that now,” Yellen remarked.
Inflation has been a millstone grinding down Biden’s poll numbers.
Even though Biden has used excuse after excuse to deflect, Americans aren’t buying them.
Polling shows that most Americans put the blame for inflation squarely on Joe Biden.
Since the regime has no answers for the problem, they’re trying to show empathy and act like they’re doing something.
After Joe Biden’s massive failures on inflation, this is a problem he won’t be able to escape.
Renewed Right will keep you up-to-date on any new developments in this ongoing story.