U.S._ Yellen: 'I Was Wrong' About Inflation

NEWSMAX

Yellen: 'I Was Wrong' About Inflation

Treasury Secretary Janet Yellen speaks during a virtual roundtable event with participants from local Black Chambers of Commerce on February 5, 2021. ( Drew Angerer/Getty Images)

By Jack Gournell | Tuesday, 31 May 2022 06:48 PM


U.S. Treasury Secretary Janet Yellen said on Tuesday that she was wrong in the past about the path inflation would take, but said taming price hikes is President Joe Biden's top priority and he supports the Federal Reserve's actions to achieve that.

Still, Yellen told CNN's Wolf Blitzer, "We can't rule out further shocks."

On ABC's "This Week March 14, 2021, Yellen said, "Is there a risk of inflation? I think there's a small risk, and I think it's manageable," and she said to The Wall Street Journal on May 4, 2021, "I don't anticipate that inflation is going to be a problem. But it is something that we're watching very carefully."

Asked by Blitzer whether she was wrong to downplay the threat that inflation posed in public statements over the past year, and whether her comments contributed to the current problems,Yellen said: "I think I was wrong then about the path that inflation would take.

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READ MORE: https://www.newsmax.com/newsfront/janet-yellen-inflation-treasury-economy/2022/05/31/id/1072352/

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