Treasury Secretary Janet Yellen said Sunday that the COVID-19 pandemic is a key factor in rising inflation and that controlling the virus is paramount to getting inflation levels down. Asked whether she believes prices for the average American will be down by next November, Yellen told CBS’s “Face the Nation” that it “really depends on the pandemic.” “The pandemic has been calling the shots for the economy and for inflation. And if we want to get inflation down, I think continuing to make progress against the pandemic is the most important thing we can do. I think it’s important to realize that the cause of this inflation is the pandemic,” Yellen said. “It all but shut down our economy. It boosted unemployment to almost 15 percent and we’ve been opening up in fits and starts. And the pandemic is really responsible in its impact for the inflation that we’re seeing,” the treasury secretary added. Yellen …
COVID-19 Pandemic Key to Rising Inflation and Must Be Controlled to Bring Levels Down: Yellen
November 15, 2021
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