U.S. Treasury Secretary Janet Yellen said on Tuesday said she was wrong about the path inflation would take following months of public statements over its perceived threat. "I think I was wrong then about the path that inflation would take," she said during a CNN interview. "So really, the shocks to the economy have continued, but inflation is the number one concern for President Biden," Yellen added. In March, Yellen appeared to contradict the White House when she said she was expecting another year of "uncomfortably high" inflation. "My plan to address inflation starts with simple proposition: Respect the Fed, respect the Fed's independence," Biden said.

Source: Fox News June 01, 2022 04:17 UTC