SAY ANYTHING: Janet Yellen blames Americans’ ‘splurging’ for record-high inflation.
In other words, “Don’t blame us for conjuring trillions of dollars out of thin air and then giving it away. It’s your fault for spending it.”
Previously: “Inflation is always and everywhere a monetary phenomenon, in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.”