Treasury Secretary Janet Yellen repeated her view that elevated U.S. inflation won’t persist beyond next year and said the Federal Reserve will act if needed to prevent a rerun of 1970s-style price rises.
“I’d expect price increases to level off, and we’ll go back to inflation that’s closer to the 2% that we consider normal” as the pandemic fades, Yellen said in an interview that aired Tuesday on National Public Radio’s “Marketplace” show.
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November 10, 2021 at 06:41AM
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Yellen Says Fed Wouldn't Allow Repeat of 1970s-Level Inflation - Bloomberg
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