© Reuters. FILE: US Treasury Secretary Janet Yellen testifies during a US House Financial Services Committee hearing on the Financial Stability Oversight Board’s annual report on Capitol Hill in Washington, DC, US May 12, 2022. Saul Loeb/Baraka
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Tuesday she had erred in the past on the trajectory of inflation, but said taming price increases was President Joe Biden’s top priority and he was taking action with the support of the Federal Reserve to make it happen. this is.
When asked in an interview with CNN whether it was wrong to underestimate the inflation threat posed by public statements over the past year, Yellen said, “I think I was wrong at the time about the way inflation was heading toward inflation.”
“As I mentioned earlier, there were unexpected and major shocks to the economy that drove up energy and food prices, and supply shortages that severely impacted our economy, which I didn’t fully understand at the time,” Yellen added.
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