Treasury Secretary Says US Has Not Lost Inflation Control – 10/24/2021

US Treasury Secretary Janet Yellen said on Sunday that the United States has not lost control over inflation. Inflation levels It will return to normal in the second half of next year.

Yellen said in an interview with CNN that President Joe Biden’s Domestic Infrastructure Spending and “Better Built” packages will be allocated over the next ten years, but he did not say whether that would increase inflation.

“I don’t think we’re going to lose control over inflation,” he said.

“On a 12-month basis, the inflation rate will be higher next year because of what has already happened. But by the end of next year, I expect improvement in the second half of next year, ”Yellen said.

Supply Chain Problems Reopening economies plague the United States and other countries as demand increases.

“As we pass the epidemic, I hope these barriers will decrease. Americans will return to work as conditions improve, ”he said.

The Federal Reserve (Federal Reserve, US Federal Reserve) has promised to keep its overnight key rate The current level is almost zero Until the economy returns to full employment and inflation returns to the target of the central bank by 2% and remains above that level for some time.