UPDATED 7:58 AM PT – Monday, July 11, 2022
Governor Chris Sununu of New Hampshire said US Treasury Secretary Janet Yellen would have been fired if he were president for misleading Americans about inflation. During an interview Sunday, the Republican stressed a recession is, in fact, coming.
“You cannot add $5 trillion onto America’s balance sheet and just hope it goes away,” he stated. “The recession is coming. The Fed, I think, has known this for a while. They have kind of ignored it. They should have been easing us into the right rates and where we need to go over a year ago.”
Sununu asserted that Yellen completely misled the American people and didn’t want to “own the bad news.” He added, the Biden administration needs to stop telling Americans a recession isn’t inevitable.
“You had a Treasury secretary who was saying, ‘oh well, it’s not inevitable.’ Of course, it’s inevitable,” he continued. “You don’t need four-years at Dartmouth economics to know that. When you add that $5 trillion, there has to be some outcome.”
Notably, Sununu said low-income families and others on fixed incomes are going to suffer this coming winter with home heating costs expected to soar past record rates. He took to Twitter to note, “inflation is the worst tax on the poor that bad management can bring and that’s exactly what the Democrats in Washington have done.” Several other Republican lawmakers have echoed these sentiments.
Joe Biden isn’t spending America to prosperity, he’s spending us into a recession.
— Senator Michael Rulli (@michaelrulli) July 6, 2022
Yellen previously shifted the responsibility of dealing with inflation away from the White House by claiming the Federal Reserve is responsible for dealing with the American economy. Prior to this, Yellen had suggested the Biden administration was running out of options to address its mishandling of the economy.