{"id":1370232,"date":"2022-03-11T07:12:42","date_gmt":"2022-03-11T12:12:42","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1370232"},"modified":"2022-03-11T07:16:06","modified_gmt":"2022-03-11T12:16:06","slug":"treasury-sec-yellen-another-year-of-very-uncomfortable-inflation-is-likely","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/treasury-sec-yellen-another-year-of-very-uncomfortable-inflation-is-likely\/","title":{"rendered":"Treasury Sec Yellen: Another Year of \u201cVery Uncomfortable\u201d Inflation Is Likely"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftreasury-sec-yellen-another-year-of-very-uncomfortable-inflation-is-likely%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1370232&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div class=\"featured featured-video video-ct\">\n<div class=\"contain\">\n<div class=\"info\">\n<div class=\"caption\">\n<p>FOX Business\u2019 Edward Lawrence reports from the White House on the inflation crisis and vehicle chip shortage.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Treasury Secretary <a href=\"https:\/\/www.foxbusiness.com\/category\/janet-yellen\" target=\"_blank\" rel=\"noopener\">Janet Yellen<\/a> appeared to contradict the White House in a Thursday interview after saying that she expects another year of &#8220;uncomfortably high&#8221; <a href=\"https:\/\/www.foxbusiness.com\/category\/inflation\" target=\"_blank\" rel=\"noopener\"><u>inflation<\/u><\/a>.<\/p>\n<p>&#8220;I think there\u2019s a lot of uncertainty related to what\u2019s going on with Russia and Ukraine and I do think that it\u2019s exacerbating inflation,&#8221; Yellen said on CNBC Thursday. &#8220;I don\u2019t want to make a prediction exactly as to what\u2019s going\u00a0to happen in the second half of the year, you know, we\u2019re likely to see another year in which 12-month inflation numbers remain very uncomfortably high.&#8221;<\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 768px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2021\/06\/931\/523\/Janet-Yellen.jpg?ve=1&#038;tl=1\" alt=\"Janet Yellen\" \/><\/div>\n<div class=\"caption\">\n<p><span>U.S. Treasury Secretary Janet Yellen speaks during a news conference, after attending the G7 finance ministers meeting, at Winfield House in London, Britain June 5, 2021.<\/span><span> (Justin Tallis\/Pool via REUTERS \/ Reuters Photos)<\/span><\/p>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/www.foxbusiness.com\/economy\/us-recession-inflation-40-year-high\" target=\"_blank\" rel=\"noopener\"><strong><u>US BARRELING TOWARD RECESSION, EXPERTS SAY, AS INFLATION HITS 40-YEAR-HIGH<\/u><\/strong><\/a><\/p>\n<p>Earlier in the day, White House Press Secretary Jen Psaki <a href=\"https:\/\/www.foxbusiness.com\/economy\/psaki-pressed-temporary-inflation-how-long\" target=\"_blank\" rel=\"noopener\"><u>suggested<\/u><\/a> inflation would &#8220;moderate&#8221; at the end of this year and that it continues to be the &#8220;projection&#8221; that high inflation will be &#8220;temporary.&#8221;<\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 768px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2022\/03\/931\/523\/Image-2-Food-Banks.jpg?ve=1&#038;tl=1\" alt=\"inflation prices\" \/><\/div>\n<div class=\"caption\">\n<p><span>According to the U.S. Bureau of Labor Statistics, U.S. grocery prices increased an average of nearly 11 percent over last year.\u00a0<\/span><span> (FNC \/ Fox News)<\/span><\/p>\n<\/div>\n<\/div>\n<p>&#8220;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,&#8221; Psaki said.\u00a0<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/politics\/varney-democrats-inflation-record-gas-prices\" target=\"_blank\" rel=\"noopener\"><strong><u>VARNEY: DEMOCRATS HAVE \u2018NO ANSWER\u2019 TO INFLATION, RECORD GAS PRICES<\/u><\/strong><\/a><\/p>\n<p>In May of last year, Psaki <a href=\"https:\/\/twitter.com\/Forbes\/status\/1391811314146844674?s=20&#038;t=JBhLAogkI3ewWGUG8c43WA\" target=\"_blank\" rel=\"nofollow noopener\"><u>assured<\/u><\/a> Americans that inflation would be &#8220;transitory&#8221; which is a term that Yellen said in December of last year should not be used to describe inflation.<\/p>\n<p>The White House did not immediately respond to a request for comment from Fox News.<\/p>\n<p>Yellen added in the CNBC interview that she does not &#8220;expect a recession&#8221; in the United States which contradicts what some experts have <a href=\"https:\/\/www.foxbusiness.com\/economy\/us-recession-inflation-40-year-high\" target=\"_blank\" rel=\"noopener\"><u>told<\/u><\/a> Fox Business.<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/live-news\/stocks-today-3-10-2022\" target=\"_blank\" rel=\"noopener\"><u>Inflation<\/u><\/a> hit a fresh 40-year high in February, largely driven by higher gas prices.\u00a0<\/p>\n<p>The consumer price index climbed 7.9% on an annual basis, according to data released on Thursday by the Bureau of Labor Statistics. Month over month, inflation rose 0.8%.<\/p>\n<p>The year-over-year reading is in line with estimates and compares with an annual 7.5% jump in January, marking the fastest increase since February 1982, when inflation hit 7.6%.\u00a0\u00a0<\/p>\n<p><a href=\"http:\/\/foxbusiness.com\/\" target=\"_blank\" rel=\"noopener\"><strong><u>CLICK HERE TO READ MORE ON FOX BUSINESS<\/u><\/strong><\/a><\/p>\n<p>From January to February, nearly every category of goods and services got pricier. Gas jumped 6.6% and accounted for almost a third of price hikes. Grocery costs jumped 1.4%, the sharpest one-month increase since 1990, other than during a pandemic-induced price surge two years ago. The cost of fruits and vegetables rose 2.3%, the largest monthly increase since 2010.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FOX Business\u2019 Edward Lawrence reports from the White House on the inflation crisis and vehicle chip shortage. Treasury Secretary Janet Yellen appeared to contradict the White House<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1370232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1370232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1370232"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1370232\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1370232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1370232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1370232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}