{"id":31470,"date":"2022-06-01T02:47:00","date_gmt":"2022-06-01T02:47:00","guid":{"rendered":"https:\/\/harchi90.com\/yellen-says-she-was-wrong-about-path-that-inflation-would-take\/"},"modified":"2022-06-01T02:47:00","modified_gmt":"2022-06-01T02:47:00","slug":"yellen-says-she-was-wrong-about-path-that-inflation-would-take","status":"publish","type":"post","link":"https:\/\/harchi90.com\/yellen-says-she-was-wrong-about-path-that-inflation-would-take\/","title":{"rendered":"Yellen says she was ‘wrong’ about ‘path that inflation would take’"},"content":{"rendered":"
\n

Treasury Secretary Janet Yellen acknowledged in an interview on Tuesday that she was \u201cwrong\u201d about \u201cthe path that inflation would take,\u201d as the lagging COVID-19 pandemic and Russian invasion in Ukraine have kept prices persistently high.<\/p>\n

During an interview with CNN’s Wolf Blitzer, the network played a clip of previous comments she made in 2021, in which she said inflation would be a “small risk” and added that she didn’t “anticipate that inflation is going to be a problem . “<\/p>\n

\u201cWell, look, I think I was wrong then about the path that inflation would take,\u201d the Treasury secretary said when asked about her previous comments. “As I mentioned, there have been unanticipated and large shocks to the economy that have boosted energy and food prices and supply bottlenecks that have affected our economy badly that I didn’t – at the time didn’t fully understand. But we recognize that now. “<\/p>\n

\u201cThe Federal Reserve is taking the steps that it needs to take. It’s up to them to decide what to do. And, for our part, President Biden is focused on supplementing what the Fed does with actions we can take to lower the cost that Americans face for important expenditures they have in their budgets, \u201dshe added.<\/p>\n