Treasury Secretary Janet Yellen regrets her previous assurance of transitory inflation in 2021, as February's annual inflation rate rose to 3.2%.
Treasury Secretary Janet Yellen has expressed regret for her past assurances that inflation would be "transitory" in 2021. The latest inflation data shows a 3.2% increase in February, higher than consensus estimates and above the 3.1% recorded in the prior month. Despite her admission of regret, Yellen insists that the trend is clearly favorable and predicts that the single biggest contributor to inflation, rental housing costs, will decrease this year.
March 13, 2024
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