Treasury Secretary Janet L. Yellen Dismisses Cardi B’s Claim About A Looming Recession

Hip Hop star, influencer, and entrepreneur Cardi B has unofficially tapped herself as an unconventional political pundit. Her social commentary about a potential looming recession caused Treasury Secretary Janet L. Yellen to dismiss her claims, according to The Hill.

Back in February, she expressed her anguish to Extra over the issue of inflation. 

“I was looking last year or two years ago and the market is just extremely high, and that’s just, let’s say, when it comes to homes, everything is high,” said the 29-year-old to the entertainment news outlet. “The food is high, the products are high. We can’t even get products from, you know, certain countries.”

Cardi B, born Belcalis Almánzar—also posted her discontent on Twitter, asking her 23 million followers:

“When y’all think they going to announce that we going into a recession?”

When y’all think they going to announce that we going into a recession?

— Cardi B (@iamcardib) June 5, 2022

Treasury Secretary Janet L. Yellen spoke Thursday at The Time’s DealBook D.C. policy forum and CNBC’s Andrew Ross Sorkin asked her, “Do you know who Cardi B is?” 

“I mean, I don’t have that much time for her. But I am alive,” replied the 75-year-old Yellen with a sharp riposte. Ross then informed the Secretary about the rapper’s concerns that she posted on Twitter about an impending recession, according to The Hill. 

“Don’t look to me to announce it,” Yellen further explained. “I’m not going to announce it. I don’t think we’re going to have a recession. Consumer spending is very strong. Investment spending is solid. I expect growth to slow down. We have a very strong economy. I know people are very upset — and rightfully so — about inflation. But there’s nothing to suggest inflation if a recession is in the works.”

Yellen acknowledged that even though the United States economy has slowed due to the global economy and the Federal Reserve increased interest rates to quell inflation, she does not foresee a recession. She also notes that she does anticipate that gas prices will decline shortly, The New York Times reports. 

While many critics believe that Cardi B’s analysis of the American economy and politics is beyond her ken, the rapper serves as a voice for her community and fans. In the end, the “Bodak Yellow” artist has every right to engage in social commentary even if she lacks the “requisite” credentials. 

Watch the Treasury Secretary address inflation, a fidgety labor market, and sanctions against Russia here.