Secretary Janet Yellen: ''Inflation is Unacceptably High''

US Treasury Secretary Janet Yellen stated that US inflation is unacceptably high. She added that the first priority of US President Joe Biden's government is to reduce inflation.

United States Treasury Secretary Janet Yellen commented on the global economy. Secretary Yellen stated that the biggest threat that is currently disrupting the world economy is the Russia-Ukraine war. Secretary Yellen touched on important points before the G20 Finance Ministers meeting in Indonesia. Noting that the biggest challenge today is Russia, Yellen underlined that the negative effects of the Russia-Ukraine war are having a major impact on the whole world, especially in terms of high energy prices and food security. Yellen noted that the economic and humanitarian consequences of the war should be closely monitored by the international community, adding that Russia has no place at the G20 meeting. The Treasury Secretary also emphasized that inflation in the US is unacceptably high and that reducing inflation should be a top priority for the administration of US President Joe Biden. Secretary Yellen also added that the government supports the Fed's actions to bring prices under control.