Economics
Yellen Expects High Inflation Through Mid-2022 Before Easing
- Rejects criticism that U.S. has lost control of rising prices
- Says Fed’s Powell has presided over stronger market regulation
Janet Yellen
Photographer: Al Drago/BloombergThis article is for subscribers only.
Treasury Secretary Janet Yellen said she expects price increases to remain high through the first half of 2022, but rejected criticism that the U.S. risks losing control of inflation.
Inflation is expected to ease in the second half as issues ranging from supply bottlenecks, a tight U.S. labor market and other factors arising from the pandemic improve, Yellen said on CNN’s “State of the Union” on Sunday. The current situation reflects “temporary” pain, she said.