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

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.