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White House, Treasury watching inflation closely, Yellen says

Economic IndicatorsMay 27, 2021 12:00PM ET
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© Reuters. FILE PHOTO: U.S. Treasury Secretary-designate Janet Yellen in Wilmington, Delaware, U.S., December 1, 2020. REUTERS/Leah Millis/File Photo

WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen said on Thursday she believes recent rise in inflation will prove temporary and that there is still slack in the economy, but that the White House, Congress, and Treasury are watching it close and have the tools to address it if needed.

"The recent inflation we have seen will be temporary, it's not something that's endemic," Yellen told the House Appropriations Committee, noting that what's driving it is a rebound from very low measures last year and shortages of materials. "I expect it to last several more months and to see high annual rates of inflation through the end of this year."

White House, Treasury watching inflation closely, Yellen says
 

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Comments (3)
Andrew Allen
Andrew Allen May 28, 2021 10:39AM ET
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These are questions basic journalism might publicly ask, but these are propagandists, not journalists
Andrew Allen
Andrew Allen May 28, 2021 10:38AM ET
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They have the tools....but can they use them? What are the consequences of using them and why not use them now?
Lawrenti Berija
Lawrenti Berija May 27, 2021 12:40PM ET
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witch!
 
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