United States Treasury Secretary Janet Yellen said on Sunday that the ongoing surge in consumer prices should be attributed to the coronavirus pandemic, adding that "continuing to make progress against the pandemic is the most important thing" the government can do.
Speaking to CBS News, she estimated that the situation around consumer prices will improve once the "demand patterns... go back to normal." The government is "leaving no stone unturned" to "unclog supply chains," the former Federal Reserve chair also stated.
Yellen revealed that "recognizing requests to reduce" tariffs the previous US administration imposed against China "in some areas" is "certainly... under consideration" by the Biden team in an effort to address prices in America. The US is "monitoring closely" the real estate issues in China, she also pointed out, as "a slowdown in China... would have global consequences."