• Treasury Secretary Janet Yellen blamed consumers’ excessive spending habits as a primary cause for the near 40-year-high in inflation on Wednesday.
• The Biden official appeared on “The Late Show with Stephen Colbert,” where she was asked about the price increases that have plagued the U.S. for more than a year.
• 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.

Tagged: #Bidenflation