Mick Mulvaney, former congressman and chief of staff to former President Donald Trump, on Sunday questioned what Treasury Secretary Janet Yellen means when she says “transitory” in talks about inflation or supply chain shortages.
On “The Cats Roundtable” radio show on WABC 770 AM, hosted by John Catsimatidis, Mulvaney pointed out that members in the Biden administration keep throwing out the word “transitory.”
“The word the administration likes to use is transitory. I saw Treasury Secretary Yellen on TV earlier this week, and she’s assuring everyone that inflation is transitory. I keep waiting for someone in the press to ask her what that word means.”
“Is transitory to her 30 days? Is it 30 months? Is it 30 years? We don’t know what that word means. It’s a wonderful word to use to give a certain impression. It doesn’t really answer any question. I think…that there are structural things pointing towards inflation.”
Mulvaney adds that during times when Democrats are in power, regulatory rates are raised.
“They change tax policies… you spend a lot more money, and you pump all this money into the system, and you restrict the flow of goods and services, by definition that gives you inflation.”