Yellen Thinks Inflation Will Be Short-Term
"An annual inflation rate of 8 percent is unacceptable for the United States," said US Treasury Secretary Janet Yellen, speaking to the House Revenue Committee.
Yellen Thinks Inflation Will Be Short-Term.
US Treasury Secretary Janet Yellen, who attended the session in the House of Representatives Revenue Committee, where the budget request for the 2023 fiscal year was discussed, stated that 8 percent inflation is unacceptable for the USA and said that she does not think that inflation is a problem that will last for 10 years.
Stating that Joe Biden's priority is the fight against inflation, as in the past days, Yellen pointed out that the Russia-Ukraine war is the cause of the current problems.
Commenting on the Fed's long-term inflation target, Yellen said that she found the 2 percent inflation target reasonable.
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