Janet Yellen blames Americans' 'splurging' for record-high inflation

Janet Yellen attempted to explain how inflation occurred during an appearance on ‘The Late Show with Stephen Colbert.'.

Treasury Secretary Janet Yellen blamed consumers' excessive spending habits as a primary cause for the near 40-year-high in inflation on Wednesday.

Colbert asked her to explain to his audience how inflation got out-of-hand when "two years ago everything seemed fine." The late-night host, known for his sycophantic boosting of President Biden and Democrats, even noted the Biden administration dismissed inflation as a "small risk" as recently as last year.

Yellen argued the administration managed the COVID-19 pandemic so well that consumers felt comfortable to "splurge" on goods.

Treasury Secretary Janet Yellen blamed high inflation in part on consumer "splurging.".

JANET YELLEN PROMOTING BIDEN POLICIES AS THE KEY TO ADVANCING NATION'S ‘LONG-TERM ECONOMIC WELL-BEING’.

Later in the interview, Yellen also blamed Russia for the increase in food and gas prices.

She also isn't the only White House official who's blamed inflation on Americans spending recklessly or who has dismissed economic concerns