Joe Biden has been a disaster for the country.
Even his regime officials are slowly coming to this conclusion.
And Joe Biden blew a gasket when one of his top officials let this truth slip.
The economy is on the verge of collapse from Joe Biden’s incompetence and socialist policies.
The economic problems are piling up with no end in sight.
But the Biden regime has laughably claimed that problems like inflation and high gas prices are only temporary.
The Left has used a strong job market to claim that there’s a “Biden Boom” going on with the economy.
The rampant inflation, high gas prices, and shortages have drawn comparisons to the economic malaise of Jimmy Carter.
Now a top regime official let the truth slip on one of the worst problems from the Jimmy Carter-era coming back — stagflation.
Speaking in Germany, Treasury Secretary Janet Yellen came clean about the massive problems facing the Biden economy.
Yellen explained that high gas prices facing drivers wasn’t going to go away anytime soon.
She hoped that increases in global supply would eventually bring down prices.
But with American oil production shackled by Biden, combined with Russia facing heavy sanctions, that could be a pipe dream.
“We’re doing what we can to avoid further increases in energy prices … but we also want to make sure that Europe transitions off Russian oil and gas,” Yellen explained.
“These pressures are not likely to abate in the very near future,” she added.
“This is an environment that is filled with risks, both with respect to inflation, and also potential slowdowns,” Yellen continued.
“Higher food and energy prices are having stagflationary effects, namely depressing output and spending and raising inflation all around the world,” she remarked.
Speaking before an international audience, Yellen dropped the excuses that have been parroted by her and other regime officials.
The regime has blamed Vladimir Putin and a variety of other lame excuses for the economic problems Biden has caused.
But Yellen raised the specter of one of the worst problems from the Carter era.
Stagflation is an economy with high inflation and stagnant or slowing growth.
With the return of stagflation, Joe Biden’s comparison to Jimmy Carter would be complete.
After the economy hit 40-year highs in inflation combined with negative economic growth for the first quarter, stagflation could already be here.
Yellen becomes the latest high-profile official to sound the alarm on stagflation.
Barack Obama’s Federal Reserve Chairman, Ben Bernanke, has also warned that America is likely facing stagflation under Joe Biden.
Biden’s economic woes aren’t ending any time soon.
With major banks warning of a recession and officials predicting stagflation, the worst could be on the way for the beleaguered Biden economy.
Stay tuned to Conservative Underground News for any updates to this ongoing story.