By the end of this year, monthly inflation in the United States will be in line with the Federal Reserve target. Despite still high inflation on an annual basis. That expectation was expressed by US Treasury Secretary Janet Yellen.
According to Yellen, annual inflation will remain high for some time to come, he said. The central bank is targeting an annual average inflation rate of 2 percent. In June, life in the United States averaged 4 percent more than a year earlier. The currency has fallen sharply since 2008.
Yellen reiterated the Biden management’s view that the tide of inflation was flowing as a result of problems in the economy, such as supply chain disruptions and a shortage of raw materials. The minister reiterated the expectation that high inflation is temporary and will return to normal in the future.
Since life in the United States is so expensive, the central bank may decide to end stimulus programs quickly and raise interest rates. But many central bank policymakers have pointed out that high inflation may be temporary.
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