Treasury Secretary Yellen Acknowledges ‘Huge Inflation Pressures’
‘I do expect inflation to remain high although I very much hope that it will be coming down now,’ Secretary Yellen told the Senate Finance Committee.
WASHINGTON — The treasury secretary acknowledged Tuesday that she and the Federal Reserve chairman “could have used a better word” than “transitory” when describing the expected run of inflation in the U.S. economy. Secretary Yellen added that she was hopeful it would soon be on the decline.
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