LIVE: Treasury Secretary Yellen holds press conference
Announcement just made at Yellen news conference requiring everyone to wear a mask.
Yellen [7-28-22]: …historic economic recovery, a rebound that's unmatched in our nation's modern history, in it's speed and scale.
Yellen [7-28-22]: The labor market is now at full employment.
Yellen citing an analysis by the Treasury Department that attributes a drop in gas price by 17-42 cents per gallon, to Biden's releasing of oil from the Strategic Reserve.
[Total nonsense]
Listening to Yellen, one would think the economy is doing great. She is one of the most visibly incompetent figures in this movie.
Yellen [7-28-22]: I think there are some positive signs that we are seeing that suggest that inflation is likely to come down in the days ahead, but the proof of the pudding will be in the eating.
Reporter: Can you say a little bit more about how you believe the Inflation Reduction Act would impact inflation.
Yellen [7-28-22]: I don't have numerical estimates for you, but I see that as making a very important contribution to lowering the cost of prescription drugs.
Yellen [7-28-22]: All of us are suffering from the impacts of Putin's war that are driving up energy and food prices, and creating real burdens on most countries around the world…Some countries are benefiting from higher commodity prices, so it's an offset.
Yellen [7-28-22]: When you look at the economy, the official arbitrator of what is a recession is going to be the National Bureau of Economic Research. They'll decide it sometime in the future.
[Jean-Pierre also points to the NBER; to no surprise, it must be a totally corrupt entity]
Mr. Biden: It's important to start with what we know before this morning's report…
Biden needs his medication…having problems reading the teleprompter.