US Treasury Secretary Yellen spoke with CNN on Sunday, giving her opinion on US CPI.
- Asked when she expects inflation … to get back to the 2% range considered acceptable, Yellen told CNN’s Jake Tapper that it would be the middle to second half of 2022. “Well, I expect that to happen next year. Monthly rates of inflation have already fallen substantially from the very high rates that we saw in the spring and early summer,” …
- “On a 12-month basis, the inflation rate will remain high into next year because of what’s already happened. But I expect improvement … by the middle to end of next year, second half of next year.”
- ” I don’t think we’re about to lose control of inflation”
Bolding above is mine.
- expects the bottlenecks to subside as progress is made on the coronavirus pandemic
- predicted that Americans will return to the workforce as conditions improve.
Yellen and Powell have inflation completely under control.
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