November 28, 2021

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Secretary of the Treasury says the United States has not lost control of inflation - 10/24/2021 - Market

Secretary of the Treasury says the United States has not lost control of inflation – 10/24/2021 – Market

U.S. Treasury Secretary Janet Yellen said Sunday that the United States has not lost control of inflation. Levels of inflation It will return to normal in the second half of next year.

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

“I don’t think we’re going to lose control of 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 The reopening of economies is plaguing 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 maintain its one-day key interest rate The current level is almost zero Until the economy returns to full employment and inflation returns to the central bank’s target of 2% and stays above that level for a while.

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