Yellen Notes Inflation Problem But Still Sees Soft Landing Path
- Latest data shows that inflation is ‘not yet under control’
- Ukraine war, monetary tightening are risks to outlook
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US Treasury Secretary Janet Yellen said inflation continues to be a problem even as she reiterated her conviction that there is a path for it to come down while maintaining a strong labor market.
Yellen’s comments come after data on Friday showed the Federal Reserve’s preferred inflation gauges unexpectedly accelerated in January and consumer spending surged after a year-end slump, adding pressure on policymakers to keep ratcheting up interest rates.