Janet Yellen: "We’re likely to see another year in which 12-month inflation numbers remain very uncomfortably high."
Earlier today Jen Psaki said that rising prices, especially gas prices, would be "temporary, and not long lasting." pic.twitter.com/mQbQXy2ONx
— Townhall.com (@townhallcom) March 10, 2022
Earlier in the day, White House Press Secretary Jen Psaki suggested inflation would “moderate” at the end of this year and that it continues to be the “projection” that high inflation will be “temporary.”
“We rely on the assessment of the Federal Reserve and outside economic analysts who give an assessment of how long it will last. The expectations and their assessment at this point is that it will moderate at the end of the year,” Psaki said.
In May of last year, Psaki assured Americans that inflation would be “transitory” which is a term that Yellen said in December of last year should not be used to describe inflation.