John Kennedy was livid over what he discovered.
Kennedy needed to alert the American people.
And John Kennedy blew the whistle on this awful plan Joe Biden has to sabotage Trump.
Senator Kennedy grills Treasury Secretary Janet Yellen
Treasury Secretary Janet Yellen made a mess of the economy in her time as Barack Obama’s chair of the Federal Reserve.
Yellen’s now crushing the American middle class by acting as one of the key figures in Joe Biden’s socialist spending agenda that sent cumulative inflation skyrocketing nearly 20 percent since Biden took office.
Biden’s added nearly $7 trillion to the national debt, which now stands at $34.8 trillion.
Kennedy called out Yellen for her borrowing money at higher interest rates because the bonds were short term.
“Today you can borrow for 10 years at 4.4%. Instead, you’re choosing to borrow at 5.4%,” Kennedy stated.
“That makes no sense!” Kennedy exclaimed.
Yellen tried to defend her deficit spending.
“Market participants believe that short-term interest rates will come down, and they will come down to a level substantially below the current 10-year,” Yellen replied.
“You announced last November . . . that we have decided to start issuing an inordinately large amounts of short-term debt, didn’t you?” Kennedy asked.
Yellen said that was correct.
That’s when Kennedy went in for the kill.
“Because of the inverted yield curve, that means that you’re gonna pay more in interest on short-term debt than say 10-year debt,” Kennedy added.
Kennedy then explained borrowing short term bonds at higher interest rates not only cost the taxpayers more money but created new inflationary pressures.
“Now that’s a fact. You can go check the numbers of Treasuries yesterday. First, that costs taxpayers a lot more money in the interest. And number two, you’re working at cross purposes with the Federal Reserve because what you’re doing is stimulating the market. You’re pumping money into the economy and Jay Powell’s over here beavering away trying to reduce inflation. And you’re beavering away trying to increase it,” Kennedy continued.
Kennedy calls out Treasury Secretary Janet Yellen for trying to rig the economy
Kennedy then dissected the problems with Yellen’s plan.
“By paying an interest rate that is 100 basis points higher than you would have to pay,” Kennedy declared.
Kennedy told Yellen the only reason to borrow short term bonds was to pump as much money into the economy as possible.
“And the only reason I can figure that y’all are doing that is, is to try to give the economy a sugar high five months before an election. Why else would anybody want to borrow at 5% when you can borrow at 4%?” Kennedy wondered.
Kennedy told Yellen he was on to her game.
Yellen wanted to juice the economy as much as possible because polls show the American people think the economy stinks.
If that perception continues into the fall then Joe Biden will lose the election.
“You’re borrowing at 5% when you could borrow at 4% to deficit spend. And it makes absolutely no sense why you would do that other than to try and artificially stimulate the economy and help Joe Biden get reelected,” Kennedy remarked.
“My mama didn’t raise a fool and if she did, it was one of my brothers,” Kennedy concluded.
