Treasury Secretary and former Federal Reserve Chair Woman Janet Yellen announced that she believes that elevated inflation won’t ease until the second half of 2022 on Monday.
Treasury Secretary and former Federal Reserve Chair Woman Janet Yellen announced that she believes that elevated inflation won’t ease until the second half of 2022 on Monday.
Why it Matters: The Biden Administration has been dealing with significantly higher than expected inflation since the spring, with pressure now mounting after October’s CPI (Consumer Price Index) reporting clocking in at a scorching 6.2 percent.
Yellen’s announcement will be seen as an attempt to calm worries about extended high inflation while also lowering expectations for lower inflation in the near future.
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