Treasury Secretary Janet Yellen cautioned Thursday that prices could continue to rise for several more months, though she expects the recent startling inflation run to ease over time,.
In a CNBC interview, the Cabinet official added that she worries about the problems inflation could pose for lower-income families looking to buy homes at a time when real estate values are surging.
“We will have several more months of rapid inflation,” Yellen told Sarah Eisen during a “Closing Bell” interview. “So I’m not saying that this is a one-month phenomenon. But I think over the medium term, we’ll see inflation decline back toward normal levels. But, of course, we have to keep a careful eye on it.”
Treasury Secretary Yellen says the Federal Reserve has done a ‘good job’ under Powell
Treasury Secretary Janet Yellen on Thursday offered high marks for the Federal Reserve and how central bank officials navigated the U.S. economy throughout the coronavirus pandemic.
Yellen told CNBC that the Fed has “done a good job” in recent months under the direction of Chairman Jerome Powell. Yellen led the central bank until her term expired in 2018, when former President Donald Trump opted to appoint Powell, a Republican.
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