After predicting in 2021 that inflation would be 'transitory,' U.S. Treasury Secretary Janet Yellen admitted her 'regret' as 'it's lasted longer than' a few weeks or months.
As Americans have continued to sound off over sticker shock on retail and grocery shelves, the U.S. Treasury secretary admitted Wednesday that her public predictions were wrong. "I regret saying it was transitory . It has come down, but I think transitory means a few weeks or months to most people. And it's lasted longer than that," Janet Yellen told FOX Business’ Edward Lawrence in an exclusive interview.
1%, which had not been seen in four decades. Fast-forward to this week, when Labor Department data indicated inflation unexpectedly ticked higher in February thanks to a jump in the cost of gasoline and rent, climbing to 3.2% year-over-year. In her Wednesday interview, Yellen recognized the financial pain still being felt within the housing and rent markets. GET FOX BUSINESS ON THE GO BY CLICKING HERE "Most forecasters believe we're on a path where inflation will come down over time.
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