Yellen Says She Regrets Pushing the ‘Transitory’ Inflation Narrative as Price Pressures Tick Up

Treasury Secretary Janet Yellen has expressed regret for repeating the ’transitory' inflation mantra in 2021.

Treasury Secretary Janet Yellen speaks at an event on the Biden Administration’s economic strategy toward the Indo-Pacific in Washington on Nov. 2, 2023. Madalina Vasiliu/The Epoch Times

A day after the latest inflation data came in hotter than expected, Treasury Secretary Janet Yellen said the path to relieving price pressures will be bumpy and expressed regret for being one of many Biden administration officials who repeatedly insisted that inflation would be “transitory.”

The consumer price index (CPI), a measure of retail inflation, came in at a 3.2 percent in February, above consensus estimates and up from 3.1 percent in the prior month, according to data released on March 12 by the Bureau of Labor Statistics (BLS).