Her overreliance on short-term borrowing sets taxpayers up for a painful economic reckoning.
The Biden administration’s profligate spending—driving unprecedented trillion-dollar deficits during a full-employment, peacetime economy—has naturally required an increase in borrowing.
Treasury Secretary Janet Yellen told Fox Business Network this week that she regrets using the word “transitory” to describe the post-Covid pandemic inflation, framing it as a good-faith prediction gone wrong. This is revisionist history.
Janet Yellen has been a disappointment as Treasury secretary, and she would have done less harm to her reputation had she left after the midterm election. Her speech last Thursday trying to explain the latest financial panic is a remarkable exercise in blaming everyone other than the real culprits.
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