{"id":40883,"date":"2022-06-07T20:22:20","date_gmt":"2022-06-07T20:22:20","guid":{"rendered":"https:\/\/harchi90.com\/yellen-says-us-faces-unacceptable-levels-of-inflation\/"},"modified":"2022-06-07T20:22:20","modified_gmt":"2022-06-07T20:22:20","slug":"yellen-says-us-faces-unacceptable-levels-of-inflation","status":"publish","type":"post","link":"https:\/\/harchi90.com\/yellen-says-us-faces-unacceptable-levels-of-inflation\/","title":{"rendered":"Yellen says US faces &#8220;unacceptable levels&#8221; of inflation"},"content":{"rendered":"<div>\n<p>The US is currently facing &#8220;unacceptable levels of inflation,&#8221; Treasury Secretary Janet Yellen told a hearing of the Senate Finance Committee on Tuesday.<\/p>\n<p><strong>Why it matters: <\/strong>Yellen made waves last week by admitting that she had been &#8220;wrong about the path inflation would take&#8221; when she predicted last year that inflation posed a short-term problem to the US economy.<\/p>\n<p><strong>What she&#8217;s saying:<\/strong> At the hearing, Yellen praised the state of the economic recovery, which she said was marked by strong economic growth and &#8220;historically low&#8221; unemployment, but acknowledged that difficulties remain.<\/p>\n<ul>\n<li>&#8220;We currently face macroeconomic challenges, including unacceptable levels of inflation, as well as the headwinds associated with the disruptions caused by the pandemic&#8217;s effect on supply chains, and the effects of supply side disturbances to oil and food markets resulting from Russia&#8217;s war in Ukraine, &#8220;she said.<\/li>\n<li>&#8220;To dampen inflationary pressures without undermining the strength of the labor market, an appropriate budgetary stance is needed to complement monetary policy actions by the Federal Reserve.&#8221;<\/li>\n<\/ul>\n<p><strong>The big picture: <\/strong>Yellen said that President Biden&#8217;s 2023 budget proposal, which was the focus of the hearing, puts forth &#8220;smart, fiscally responsible investments, cutting deficits and keeping the economic burden of debt low.&#8221;<\/p>\n<ul>\n<li>She added that Biden&#8217;s clean energy initiatives and policies to reform prescription drug pricing, if passed, &#8220;could help lower the costs paid by American consumers.&#8221;<\/li>\n<\/ul>\n<p><strong>Go deeper:<\/strong> Yellen warns of &#8220;stagflationary effects&#8221; of higher food and gas prices<\/p>\n<\/div>\n<p>    .<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The US is currently facing &#8220;unacceptable levels of inflation,&#8221; Treasury Secretary Janet Yellen told a hearing of the Senate Finance Committee on Tuesday. Why it matters: Yellen made waves last week by admitting that she had been &#8220;wrong about the path inflation would take&#8221; when she predicted last year that inflation posed a short-term problem &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/harchi90.com\/yellen-says-us-faces-unacceptable-levels-of-inflation\/\"> <span class=\"screen-reader-text\">Yellen says US faces &#8220;unacceptable levels&#8221; of inflation<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[8],"tags":[17160,111,18543,15948],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"fifu_image_url":"https:\/\/images.axios.com\/dSgrRsh2_YzXeYHjp_WKt5MdTi0=\/0x0:3539x1991\/1366x768\/2022\/06\/07\/1654614049095.jpg","_links":{"self":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/40883"}],"collection":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/comments?post=40883"}],"version-history":[{"count":0,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/40883\/revisions"}],"wp:attachment":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/media?parent=40883"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/categories?post=40883"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/tags?post=40883"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}