Janet Yellen warns inflation decline might not be ‘smooth’
Yellen discusses inflation, credit card debt, higher taxes in exclusive interview
Treasury Secretary Janet Yellen said Wednesday that inflation could face a bumpy return to normal after back-to-back reports showed that price pressures within the U.S. economy rebounded at the start of the year.
In a sit-down interview with FOX Business’ Edward Lawrence, Yellen pushed back against stagflation concerns and maintained that progress on inflation has not stalled.
“I wouldn’t expect this to be a smooth path month to month, but the trend is clearly favorable,” she said. “That said, President Biden’s top priority is addressing the issue of high costs that concerns so many Americans.”
Prices for everything including groceries, new cars and health insurance surged in 2021 and 2022 as the result of rampant inflation, which was caused by pandemic-induced disruptions in the global supply chain, an extremely tight labor market and increased consumer demand fueled in part by stimulus cash.
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