Lafayette Reporter

Treasury Secretary Janet Yellen faced tough questioning from Sen. John Kennedy (R-La.) regarding the impact of inflation on American families under President Biden's economic policies. During the exchange, Kennedy highlighted the significant rise in prices, which is costing Louisiana families an extra $792 each month.

In response to Kennedy's question on whether these high prices are here to stay, Yellen admitted, "I don't expect the level of prices to go down... Some prices will be higher than they were before the pandemic and will stay higher."

Kennedy expressed concern about the decline in real wages, emphasizing that workers are effectively making less money than they were three years ago. He remarked, "If you don't get a pay raise, you're screwed."

Yellen's response to Kennedy's query about the possibility of a recession lowering prices was surprising. She stated, "Well, we don't have to get the prices down because wages, wages are going up." However, it is worth noting that wages have not risen as quickly as prices have.

Kennedy further pressed Yellen on the need to address the rising prices, highlighting specific examples such as the increase in the cost of bacon by 20%, chicken by 23.5%, coffee by 30%, gas by 44%, and used cars and trucks by 24% under Bidenomics. He questioned, "You don't think we need to get these prices down?"

"People are getting really good at barely getting by because of Bidenomics," Kennedy added, capturing the financial struggles faced by many Americans due to inflation.

The impact of inflation on Louisiana households is significant. Under the Biden administration's economic policies, Louisianians are now spending an extra $9,510 annually to purchase the same goods and services they bought before President Biden took office. In just three years, monthly inflation costs have risen by 18.3%, resulting in Louisiana households losing nearly $18,000. This is particularly concerning considering that the median household income for a Louisiana household is $57,852.

Kennedy's exchange with Yellen serves as a reminder of the challenges posed by rising prices and its detrimental effect on American families. The concerns raised by Kennedy shed light on the need for effective solutions to address inflation and ensure that wages keep up with the rising cost of living.

Watch Kennedy question Yellen [here](link to the video).