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Yellen Sees ‘Several More Months of
Rapid Inflation’ — Worries About Housing
Impact

Original Article

Posted By: IowaDad, 7/16/2021 7:56:38 AM

Treasury Secretary Janet Yellen said Thursday on CNBC’s “Closing Bell” that the U.S. economy will have “several more months of rapid inflation.” Yellen said, “We will have several more months of rapid inflation. So I’m not saying that this is a one-month phenomenon. But I think over the medium term, we’ll see inflation decline back toward normal levels. But, of course, we have to keep a careful eye on it. Measures of inflation expectations, I think, still look quite well contained over the medium term. [Snip]. I believe fundamentally, you know, that this is something that will settle down.”

Comments:

No Ma'am! Fundamentally if the government prints more money than the value of the goods and services we create, the worth of that money decreases -- so inflation may accelerate out of control (and do so throughout the world).

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Reply 1 - Posted by: chance_232 7/16/2021 8:17:48 AM (No. 847567)
Sooooooo...... will inflation level off with products and services remaining at the new high prices? Or will prices start to drop, deflation? My guess.... prices won't be coming down....any time soon.
6 people like this.

Reply 2 - Posted by: lakerman1 7/16/2021 8:30:56 AM (No. 847590)
Prices almost never come down, #1. And so I sit in retirement, having been prudent in preparing for it, expecting to see Dementia Jo and his allies make my remaining years ones of impecuniousness.
21 people like this.

Reply 3 - Posted by: Bur Oak 7/16/2021 8:35:15 AM (No. 847599)
Paying off public debt by devaluing money and impoverishing savers.
14 people like this.

Reply 4 - Posted by: Lawsy0 7/16/2021 8:53:21 AM (No. 847632)
Liar, liar, pantsuit on fire.
6 people like this.

Reply 5 - Posted by: Mizz Fixxit 7/16/2021 9:27:18 AM (No. 847675)
Yellen knows that federal reserve manipulation cannot stop prices from going to the moon.
2 people like this.

Reply 6 - Posted by: MDConservative 7/16/2021 9:29:36 AM (No. 847680)
This is akin to adding 20 pounds to your weight over each of the next six months, then just 5 pounds in the following months. Somehow, that's good?
4 people like this.

Reply 7 - Posted by: qr4j 7/16/2021 9:32:03 AM (No. 847683)
Stop paying people not to work. Allow us to be energy independent as we were not long ago. Stop fighting oil. Stop threatening to raise taxes. In other words, get the government out of the way of its people!
15 people like this.

Reply 8 - Posted by: wilarrbie 7/16/2021 9:42:13 AM (No. 847702)
The housing impact is going to be in trying to find places for one million illegals who 'suddenly' showed up on the doorstep. They keep giving them freebies. In the midst of pandemic fallout that has created shortages all over the place. After Trump set things on the right track with eat-your-vegetables policies - Biden & co. have been flinging candy around like they just broke mother lode of piñatas. That piñata would be our treasury and Yellen's in charge of it. Yeaaaaah, good times.
10 people like this.

Reply 9 - Posted by: NamVet70 7/16/2021 9:45:46 AM (No. 847711)
I remember the stagflation of the Carter years. It will just happen as a surprise to the people who cause it. Thankfully, in President Trump's next term that will be one of the easier problems to fix.
4 people like this.

Reply 10 - Posted by: chance_232 7/16/2021 10:01:13 AM (No. 847731)
Re#2. I had to break out the dictionary for impecuniousness. Learned a new unpronouncable word today. Re#9. I also remember double digit interest rates. Gas lines, gas rationing and the press running recipies using dog food.
4 people like this.

Reply 11 - Posted by: MickTurn 7/16/2021 10:13:41 AM (No. 847739)
Then Tell Xiden to stop "Messing" up the economy...Marxist!
2 people like this.

Reply 12 - Posted by: LC Chihuahua 7/16/2021 10:29:18 AM (No. 847774)
Was Janet Yellen salivating as she said this? This is what the left wants. It makes more people dependent on them. It is control.
3 people like this.

Reply 13 - Posted by: smokincol 7/16/2021 11:06:34 AM (No. 847830)
easy for her to say - for someone who hasn't food shopped since 1980 or driven a car and paid for gas since 1975. yes, things are pretty good for the likes of people like her but not for the rest of us. getting pretty sick and tired of joe and his commie hoodlums!
4 people like this.

Reply 14 - Posted by: zephyrgirl 7/16/2021 12:03:47 PM (No. 847880)
I was just starting my career during the Carter years and remember well 15% mortgage rates, the despair that comes from thinking I'd never be able to buy a house, and always being worried about how much everything cost. I'm not looking forward to that in my senior years, although I'm a little better prepared for that eventuality now. One benefit of those awful times - it taught me to stay out of debt, to live below my means, and to never vote for Democrats.
5 people like this.

Reply 15 - Posted by: rytwng 7/16/2021 12:51:08 PM (No. 847938)
I see three more years of inflation until President moron is out of office.
3 people like this.

Reply 16 - Posted by: DVC 7/16/2021 1:01:21 PM (No. 847946)
A young millennial friend just bought his first home this week. He struggled .....losing several when outbid by other eager buyers. He finally got a home that was advertised at $125,000 by bidding $150,000. Now he is an official homeowner, and happy to stop paying rent. Home prices are jumping. It would seem that folks bailing out of NY and California, and other high home cost states are showing up in lower home price states and bidding up home prices, not realizing that what sells for $750,000 in California could be had for $125-$150K in parts of the midwest. But that was before they jumped in and bid $175,000 or more, thinking that they were getting a bargain. What they are really doing by overpaying is messing up the local housing market for people who have lived here all along.
5 people like this.

Reply 17 - Posted by: DARling 7/16/2021 2:46:12 PM (No. 848037)
When the current housing bubble pops, there will be deals to be had again. I just hope we don't have another major recession to go along with it. Car and truck prices are just as bad. People are being very foolish with their money right now.
1 person likes this.

Reply 18 - Posted by: WV.Hillbilly 7/16/2021 5:09:55 PM (No. 848126)
How about several more years?
1 person likes this.

Reply 19 - Posted by: ColonialAmerican1623 7/17/2021 12:30:44 AM (No. 848342)
#16 For those secure in being able to buy or keep a home, property taxes and homeowner's insurance is rapidly increasing because the value of your home just tripled. Sure Janet. Just finishing what you and Obola started in 2009.
1 person likes this.

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