WASHINGTON—The Federal Reserve during Jerome Powell’s second term as chair will have an important role to play over the longer term to ensure that inflation does not become “endemic,” Treasury Secretary Janet Yellen told CNBC on Monday.
Yellen said she believed Powell’s nomination and that of Lael Brainard as vice chair would win broad support in Congress and that she was confident in their ability “to make good judgments” on balancing the Fed’s dual mandates of maintaining maximum employment and price stability.
