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Yellen Still Hopes U.S. Inflation Gets Back to 2% by Year-end
U.S. Treasury Secretary Janet Yellen said she continues to forecast inflation falling close to 2% by the end of 2022. “I expect inflation throughout much of the year -- 12-month changes -- to remain above 2%,” Yellen said Thursday in an interview with CNBC television. “But if we’re successful in controlling the pandemic I expect inflation to diminish over the course of the year and hopefully to revert to normal levels by the end of the year, around 2%.” The consumer price index rose 7% in the 12 months through December, the most in almost 40 years, damaging President Joe Biden’s popularity and putting ... (full story)
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