United States Treasury Janet Yellen stressed on Monday the necessity to "be concerned" about rising inflation as it has reached a "level that concerns most Americans."
Yellen urged the Federal Reserve that it needs to "play an important role to make sure inflation doesn't remain endemic." She noted that the rising trend is "partly a reflection" of the effect the COVID-19 pandemic has been leaving on the economy. Yellen also pointed out the White House is doing "everything it can to address bottlenecks," the ongoing crisis in the supply chain.
Earlier this month, Yellen stated that inflation is likely to start going down by the second half of 2022.
