Treasury Secretary Janet Yellen said during an exclusive FOX Business interview that inflation's return to normal could be bumpy from month to month.
EXCLUSIVE: Treasury Secretary Janet Yellen said Wednesday that inflation could face a bumpy return to normal after back-to-back reports showed that price pressures within the U.S. economy rebounded at the start of the year. In a sit-down interview with FOX Business' Edward Lawrence, Yellen pushed back against stagflation concerns and maintained that progress on inflation has not stalled.
" Prices for everything including groceries, new cars and health insurance surged in 2021 and 2022 as the result of rampant inflation, which was caused by pandemic-induced disruptions in the global supply chain, an extremely tight labor market and increased consumer demand fueled in part by stimulus cash. While inflation has fallen considerably from a peak of 9.1% notched during June 2022, it remains above the Federal Reserve's 2% goal.
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