During an interview with CNBC released on Monday, Treasury Secretary Janet Yellen responded to a question on whether she is confident that inflation will hit the target rate of 2% by stating that she expects that inflation “will continue to come down over time.” And “we can certainly get into the twos.” Yellen also stated that “we’ve had generally good news on inflation.”
CNBC host Sara Eisen asked, “You’re still confident we can get to 2% this year? We’ve seen a little bit of a flare-up so far this year.”
Yellen responded, “Well, I think it will continue to come down over time. That’s my expectation, and, I’m hopeful that we — we can certainly get into the twos.”
Eisen then asked, “And recovery stays intact with or without Fed rate cuts?”
Yellen answered, “So, I’m not going to make a forecast on Fed rate cuts. The Fed has indicated that they want to make sure that inflation’s really coming down and that they’re obviously considering rate cuts that would be appropriate when they reach that judgment. And we’ve had generally good news on inflation. Let’s look at the data, I believe inflation will continue to come down.”
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