U.S. Treasury Secretary Janet Yellen speaks during a press briefing at the White House in Washington. (AP Photo/Patrick Semansky, File)
OAN Newsroom
UPDATED 7:10 PM PT – Tuesday, June 15, 2021
Joe Biden’s Treasury Secretary Janet Yellen has pumped even more money into the U.S. economy in a move that critics suggest to be political. On Tuesday, Yellen announced the Treasury will provide $1.25 billion to the Community Development Financial Institutions.
“The Vice President is right,” she expressed. “This is one of the first subjects she raised with me, the importance of CDFIs and it’s exactly the right place to focus our attention.”
When the Fed counterfeits dollars, it ultimately results in a rise in prices. Americans suffer a lower standard of living by being forced to buy less with the money that they worked for.
Does this sound like it’s ‘good for society’ to you? Apparently, it does to Janet Yellen!
— Ron Paul (@RonPaul) June 12, 2021
Yellen went on to claim the move will give cheaper loans to women and ethnic minorities despite the concerns of rising consumer debt and inflation running way above four percent.
“By one measure, every dollar injected into a CDFI catalyzes eight more dollars in private sector investment,” she stated. “That means that today’s announcement might lead to an additional ten billion dollars in investment.”
Critics suggest Yellen continues to pump money into the U.S. economy to make the Biden administration look good. Meanwhile, working Americans are facing rising costs of living and the so-called inflation tax.
