Yellen: Inflation Will Slow Down

US Treasury Secretary Janet Yellen made a statement regarding the current economic conditions. Stating that a recession is inevitable for the USA, Yellen said that the rate of inflation will decrease.

US Treasury Secretary Janet Yellen: Inflation will Slow Down. US Treasury Secretary Janet Yallen spoke to ABC. Yellen gave positive messages, emphasizing that decisive steps have been taken in the fight against inflation. Supporting Joe Biden's statements that a recession is inevitable, Yellen further stated that inflation in the US is not dependent on local but global developments. Stating that the rate of inflation will decrease in the coming months, the US Treasury Secretary stated that consumer expenditures regarding economic activity continued to be strong. Biden's Recession Statement The 46th President of the United States, Joe Biden, declared that the tightening policy of the Fed to combat inflation made a recession inevitable. "Yellen said the package could have a marginal effect on inflation. You can argue about whether the package has marginal, secondary effects on inflation. I don't think it has any effect. Many economists don't think it has either. But the idea that the package creates inflation is weird," Biden told the AP.