New Hampshire Governor Chris Sununu (R) said a recession is on the way and that Treasury Secretary Janet Yellen should be dismissed, arguing that “she’s completely misled America.”
On Sunday, during an interview on CNN’s “State of the Union,” Sununu made the comments.
“A recession is on the way. You can’t just add $5 trillion to America’s balance sheet and expect it to go away. The downturn is on its way,” Governor Sununu said during an interview with CNN host Jake Tapper.
“They should have eased us into the proper rates and where we needed to go a year ago. You have a Treasury Secretary who claims that it isn’t inevitable. Of course, it’s inevitable. You don’t need four years of Dartmouth economics to figure out that when you add $5 trillion, there will be an effect, which is why gas prices are so high today, home prices are rising at alarming speeds, and the cost of a taco is becoming increasingly unreasonable for some people. And it hits lower-income families especially hard. That will be the problem in the future,” Sununu continued.
During the interview, Sununu was also asked about his suggestions for improving things. His primary suggestion was to remove Yellen from her post as Treasury Secretary.
“I’d fire the Treasury Secretary first. I believe she has totally misled America,” Sununu said.
In an interview, last month on ABC’s “This Week with George Stephanopoulos,” Yellen declared that inflation is “unacceptably high” while also suggesting that a recession may not be imminent.
“I anticipate that the economy will slow,” Yellen added. “It’s been expanding at a breakneck speed since the economy and labor markets have recovered. We’ve achieved full employment. It’s only natural that we look for steady and consistent growth now, but I don’t believe a recession is inevitable.”
Inflation reached a 40-year high in May. This year’s gas costs have already surpassed previous records and have nearly doubled the price per gallon in just two years.