Treasury Secretary Janet Yellen said she regretted saying inflation was temporary.
“I regret saying it was temporary,” she said. Said. “Things are calming down,” she added, but she said she thinks temporary means just a few weeks or months for most people.
In response to a clip of Yellen’s comments, Republican Sen. Bill Hagerty of Tennessee said: post In X, he said, “After three years of claiming that the border is secure, my question is, in a few years, even the Biden administration will have to admit that it’s not true. What are you saying now?”
“Her remorse should help President Biden *cause* inflation with trillions of dollars of reckless spending,” said Republican Sen. Tom Cotton of Arkansas. tweeted.
Yellen: “I’m ready to stop using the word transient” Said Back in December 2021, he noted that was “not an adequate description of what we’re dealing with.”
According to the consumer price index report The all-commodity index for the 12 months to February rose 3.2%, a larger increase than the 3.1% rise for the 12 months to January, the index announced on Tuesday, for all items except food and energy. The index has risen 3.8% over the past 12 years.”The energy index fell 1.9% in the 12 months to February, while the food index rose 2.2% on last year. ”
President Joe Biden argued: statement“My top financial priority is reducing costs, and today’s report shows that we continue to make progress on that front.”
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