Yellen: Not Worried About A 1970s Inflation Replay

“Price pressures to subside as life normalizes in 2022,” US Treasury Secretary Janet Yellen said while crossing wires during late Monday night.

The policymaker expected, “Monthly CPI around 0.2% to 0.3% in H2 of 2022.” Earlier, US Treasury Secretary Yellen spoke during a CNBC interview while saying, “Inflation has reached a level that concerns most Americans.”

As a reaction to the comments, investors and traders have the opportunity to consolidate recent gains following the news amid a quiet Asian session on early Tuesday.

Important Comments

We do have to be concerned about inflation.

Inflation partly a reflection of pandemic impact on the economy.

White House is doing everything it can to address bottlenecks.

Fed needs to play important role to make sure inflation doesn’t remain endemic.