Yellen Says Fed, Biden Administration Will Take Steps to Control Inflation

Treasury Secretary Janet Yellen addresses the U.S. Conference of Mayors winter meeting in Washington, on Jan. 19, 2022. Jonathan Ernst/Reuters

WASHINGTON—U.S. Treasury Secretary Janet Yellen said on Thursday she was confident the Federal Reserve and the Biden administration would take steps needed to bring down inflation over the course of 2022, provided the COVID-19 pandemic is brought under control.

“Inflation rose by more than most economists, including me, expected and of course it’s our responsibility with the Fed to address that. And we will,” Yellen told CNBC in a live interview.