COVID-19 Pandemic Key to Rising Inflation and Must Be Controlled to Bring Levels Down: Yellen

Treasury Secretary Janet Yellen attends the House Financial Services Committee hearing in Washington, on Sept. 30, 2021. Al Drago/Pool via Reuters

Treasury Secretary Janet Yellen said Sunday that the COVID-19 pandemic is a key factor in rising inflation and that controlling the virus is paramount to getting inflation levels down.

Asked whether she believes prices for the average American will be down by next November, Yellen told CBS’s “Face the Nation” that it “really depends on the pandemic.”