“We’re going to have faster inflation for a few months,” the Treasury Secretary told CNBC. he said.
Stating that she thinks that inflation will decrease to normal levels in the medium term, Yellen underlined that much attention should be paid to this issue.
Addressing concerns that inflationary pressures could stall the economic recovery, Yellen said, “I don’t think we’re seeing the kind of dangers we saw heading towards the financial crisis in 2008.” he said.
Pointing out that this situation is different, Yellen noted that she is concerned about the pressure it will create on low-income families who will buy a house at a time when housing prices are rising.
According to data from the US Department of Labor, the Consumer Price Index (CPI) increased by 0.9 percent monthly and 5.4 percent annually in June, exceeding expectations. Annual inflation, which exceeded 5 percent in the said period, recorded the highest increase in 13 years.
Source: Dünya Gazetesi by www.dunya.com.
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