Janet Yellen: Inflation is high, but this isn't like the '70s

[Yo_Mama_Been_Loggin]

High inflation is a thorn in America's side. Prices of groceries and gas are rising and Americans are growing pessimistic about the economy because of it.

But it's still nowhere as bad as the inflation spike of the 1970s, and prices aren't going to surge like they did 50 years ago, according to Treasury Secretary Janet Yellen. Back then, the inflation scare turned into stagflation — rising prices, combined with slow growth and high unemployment.

"In the 1970s, a series of supply shocks became a longer run problem ... that partly occurred because policy makers weren't trusted by the public to deal effectively with inflation," Yellen said during an interview with Bianna Golodryga for "Amanpour," set to air Wednesday at 2 pm ET on CNN International.

"But I certainly see no evidence that that's the case now," the Treasury Secretary added.

https://www.msn.com/en-us/money/markets/janet-yellen-inflation-is-high-but-this-isnt-like-the-70s/ar-AAQht3T

As one who was around back then I have to agree.

[roamer65]

1. Low velocity of money.

That is the only thing that is keeping us out of hyperinflation right now.

Velocity of money figures are very low.

[fescuerescue]

2. Honestly it makes me nervous that she talks about inflation so much

It feels like "NOTHING TO SEE HERE! MOVE ALONG!"

[Fiendish Thingy]

3. She's right, but for so many born in the 80's and 90's this is the worst inflation they've experienc

Of course, raising the minimum wage would help offset the effects of inflation, but we wouldn’t want to upset those stellar examples of Democratic compassion, Senators Manchin and Sinema.