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.
What People are Saying:
*YELLEN SAYS `NOT WORRIED' ABOUT A RE-RUN OF 1970S INFLATION
— zerohedge (@zerohedge) November 22, 2021
what else can she say
Another bad faith question by Sara Eisen. After dishonestly asking about inflation, she’s now claiming Powell should focus on the remaining 4M lost jobs instead of inflation. Yellen reminds her the Fed has a dual mandate to maximize employment while containing inflation. pic.twitter.com/qcn69IQY6w
— Nancy Pelosi’s Heels (@bidonkules) November 22, 2021
*YELLEN SAYS INFLATION MIGHT SUBSIDE BY SECOND HALF OF 2022
— Lawrence McDonald (@Convertbond) November 16, 2021
*In May in was 2H 2021, now it’s 2H 2022. That’s 18 months of vastly negative real yields (a bond’s return after inflation).
Follow us on Twitter and Facebook!