Secretary Yellen Defends Failure to Predict Inflation Would Rise and ‘Remain as Persistent as It Has’

Secretary Yellen Defends Failure to Predict Inflation Would Rise and ‘Remain as Persistent as It Has’
Treasury Secretary Janet Yellen speaks in Dearborn, Mich., on Sept. 8, 2022. Paul Sancya/AP Photo
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Treasury Secretary Janet Yellen on Tuesday insisted she was in “good company” in failing to forecast persistent and soaring inflation and blamed the increasing cost of living on a series of unpredictable “shocks” to the economy.

Yellen made the comments during an interview with CNBC’s Sara Eisen.
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