Treasury Secretary Janet Yellen is warning Americans to expect another year of “very uncomfortably high” inflation as Russia’s invasion of Ukraine further exacerbates domestic and global economic factors that have already resulted in soaring prices on consumer goods in the U.S.
“I don’t want to make a prediction exactly as to what’s going to happen in the second half of the year,” Yellen said Thursday on CNBC’s “Closing Bell.” But “We’re likely to see another year in which 12-month inflation numbers remain very uncomfortably high.”
Yellen spoke just hours after the federal government’s February Consumer Price Index report, which showed inflation […]
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