Photo courtesy of Paul Morigi
WASHINGTON (AP) – Treasury Secretary Janet Yellen says that the economic recovery is going to be “bumpy” with high inflation readings likely to last through the end of this year.
But Yellen insists that the inflation pressures will be temporary and if they do threaten to become embedded in the economy, the government has the tools to address that threat.
In testimony before a House Appropriations subcommittee Thursday, Yellen was asked about the big jump in consumer prices reported last week. She said that the April price increase was the result of a number of special factors related to the economy opening back up.
By Martin Crutsinger, Associated Press
About Brendan Fitzpatrick
