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- "Rich Dad Poor Dad" author Robert Kiyosaki took a jab at Janet Yellen for touting Bidenomics.
- "What is she smoking?" Has she been food shopping lately? Has she filled her gas tank lately?" the personal finance guru said.
- The Treasury Secretary on Monday cheered Biden's Inflation Reduction Act for driving economic growth at a time when Americans are financially strapped.
"Rich Dad Poor Dad" author Robert Kiyosaki slammed US Treasury Secretary Janet Yellen for touting Bidenomics in a Monday speech.
At the Inflation Reduction Act anniversary in Las Vegas, Nevada, Yellen cheered President Joe Biden's economic policies, saying his agenda has "helped drive a massive boom that is touching every corner of the country."
She highlighted a robust US labor market, falling inflation, and consumer sentiment at nearly a two-year high as part of her Bidenomics sales pitch.
But Kiyosaki pushed back, suggesting Yellen's comments don't reflect economic problems including higher prices of automotive fuel and some food items, and rising credit-card debt.
"Treasury Secretary Janet Yellin says the IRA Inflation Reduction Act is "turning point" in saving our planet, "what is she smoking?" Has she been food shopping lately? Has she filled her gas tank lately? How many businesses closing? How about credit card debt? Biden's team worst leaders in history," Kiyosaki said in a Wednesday post on X.
His comments come after US inflation ticked up in July, snapping a multi-month decline. Data showed the Consumer Price Index rose 3.2% annually, up from June's 3.0% increase.
That's despite the Federal Reserve hiking interest rates from near-zero levels to upward of 5% in a bid to cool price pressures.
Higher food and fuel prices have shown how living costs have remained elevated for US consumers, with orange juice and cocoa rising to their most expensive levels in years. Meanwhile, US gas prices are jumping again, rekindling fears of an inflation rebound – and underpinning Kiyosaki's point.
Like Kiyosaki, other market commentators including "Shark Tank" investor Kevin O'Leary also have blamed Biden's massive fiscal-spending binge during the COVID-19 pandemic for high inflation and rising interest rates.