Rapper Cardi B questioned the state of the economy last week, and Treasury Secretary Janet Yellen replied that she didn’t have “time for her” commentary.
“When y’all think they going to announce that we going into a recession?” The WAP rapper asked her 23 million Twitter followers on June 5.
When y’all think they going to announce that we going into a recession?
— Cardi B (@iamcardib) June 5, 2022
Yellen responded to the query on Thursday during the New York Times’s DealBook D.C. policy forum, when a reporter asked if she even knew who the rapper was. “I mean, I don’t have that much time for her. But I am alive,” Yellen, 75, chuckled.
“Don’t look to me to announce it,” she shot back at the rapper’s post. “I’m not going to announce it. I don’t think we’re going to have a recession.”
Yellen testified in front of the Senate Finance Committee and the House Ways and Means Committee about skyrocketing inflation earlier in the week.
“Consumer spending is very strong. Investment spending is solid. I expect growth to slow down. We have a very strong economy,” Yellen said at Thursday’s forum. “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.”
Data released from the Labor Department on Friday revealed that May’s 8.9% inflation numbers are the fastest growing since 1981. Cardi B, 29, retweeted a CNBC article titled: “The recession will hit in the first half of 2023 and the Dow is headed lower: CNBC CFO survey,” on the same day. She captioned the post with the “nerd face” emoji, which indicates being smart.
— Cardi B (@iamcardib) June 10, 2022
When one follower questioned her financial savviness, the “Bodak Yellow” rapper pointed out that her level of personal wealth makes it a necessary skill set.
“Why is it far fetch for me to know finance when I have a business, pay taxes and own stocks?” She wrote. “You gotta know about money to maintain it.”