Janet Yellen Expects Inflation to Remain High, Shrugs Off Effects of Biden Spending Spree

Secretary of the Treasury Janet Yellen testifies during a hearing before Senate Finance Committee at Dirksen Senate Office Building on Capitol Hill in Washington on June 7, 2022. Alex Wong/Getty Images

Treasury Secretary Janet Yellen said the inflation is at “unacceptable levels” but expected it to remain high.

“I do expect inflation to remain high, although I very much hope it will be coming down now,” she told the lawmakers during a hearing on Tuesday before the Senate Finance Committee.