Janet Yellen. File photoWASHINGTON, Jun 1 US Treasury Secretary Janet Yellen admitted that her forecasts for domestic inflation were too optimistic. Last year, Yellen said that US inflation posed only a «small risk». In March of this year, inflation in the country reached a record high since 1981 and amounted to 8.5%. In April, price growth slowed for the first time since August 2021 and stood at 8.3% year-on-year.
"I think I was wrong about the path that inflation will take… As I noted earlier, no one expected neither the major shocks to the economy that boosted energy and food prices, nor the supply chain disruption that hit our economy so hard that I didn't fully understand then, but we recognize it now,» she told the news on CNN's Situation Rom.
In May, US Federal Reserve Chairman Jerome Powell said the regulator was prepared to take «more aggressive» steps to bring down domestic inflation, including further interest rate hikes. This is how he commented on the government's measures to slow down inflation.