Treasury Secretary Janet Yellen has more financial and analytical resources at her fingertips than thousand hedge funds combined. When Secretary Yellen claims today that she “got it wrong” about inflation, what she is doing is continuing the game of pretending; she’s positioning the administration as incompetent, not deliberate.
The illusion of incompetence plays into the scheme of hiding the fact the administration is working through a purposeful strategy. In the game of pretending; and under the current circumstances; it is better to be seen as incompetent than recognized as working with malicious intent. This is the illusion behind Joe Biden’s usefulness.
This is also the organized pretending game within DC that too few people will accept or admit. The Treasury Secretary and Federal Reserve Chairman are not making mistakes, they are working on a specific agenda and economic plan. Federal Reserve Chairman Jerome Powell was not late to raise interest rates, he waited on purpose. He waited for the political reason of waiting until the triggered 2021 inflation spike cycled through the full calendar year.
These are not monetary policy leaders making monetary policy mistakes. These are monetary policy political ideologues, carrying out a political agenda within the U.S. economy. This is part of what National Economic Council Chairman Brian Deese would call the “economic transition.” WATCH this through the correct prism: