Yellen: COVID Stimulus Packages May Have Contributed ‘A Little Bit’ to Inflation

The outgoing U.S. Treasury secretary largely blamed inflation on supply chain issues due to the pandemic.

U.S. Treasury Secretary Janet Yellen speaks during a visit to the Financial Crimes Enforcement Network (FinCEN) in Vienna, Va., on Jan. 8, 2024. Susan Walsh/AP Photo

Outgoing Treasury Secretary Janet Yellen conceded that COVID-19 stimulus packages could have contributed somewhat to persistent U.S. inflation.

The COVID-19 fiscal stimulus packages may have contributed “little bit to the inflation” but said that the main driving force was supply chain issues, she told CNBC on Wednesday morning.