Yellen says inflation will come down as US economy recovers from Covid - reports

Pandemic ‘calling the shots’

US Treasury secretary Janet Yellen has said that the only way to bring inflation back down is to continue to “make progress against the pandemic”, according to the FT.

"The pandemic has been calling the shots for the economy and for inflation," Yellen told CBS's ‘Face the Nation' programme. "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." US inflation reached its highest level since 1990, as October's consumer price index soared 6.2% year-on-year, and recorded a month-on-month increase of 0.9%, exceeding consensus expectations. US inflation surge may remain 'uncomfortably high' as CPI reaches 6.2% The FT reported that Yellen expects the recent rise in prices...