Yellen Admits ‘Prices Are Not Likely to Fall’

Treasury Secretary Janet Yellen recently acknowledged that prices on the whole are not going to fall—just increase at a slower pace.

U.S. Treasury Secretary Janet Yellen speaks at an Asia Society Policy Institute event at the Mayflower Hotel in Washington on Nov. 2, 2023. Drew Angerer/Getty Images

Treasury Secretary Janet Yellen said in a recent interview that she believes Americans are aware that, despite President Joe Biden’s rhetoric on falling inflation, prices, on the whole, are not going to fall.

Ms. Yellen made the remarks in a Jan. 25 interview on ABC News, in which she touted the administration’s Bidenomics policies and said she sees no reason why gloomy predictions for a recession this year would come true.