And of course Janet Yellen was before our finance committee a couple weeks ago and I asked her, I laid out, listen, these Bank failures obviously are caused by the inflation caused the Fed to increase the interest rates, would devalue the bonds, put them into bankruptcy. Okay, let's talk about inflation. From my standpoint, the three primary causes, massive deficit spending, that's the biggest one. Of course your war on fossil fuel doesn't help driving up cost from energy. (24:48–24:56)
CLAIM
Asserts that inflation led to increased interest rates, devaluing bonds and causing bank failures.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
