Yellen Says High Inflation Will Stick Around All Year

Treasury Secretary Janet Yellen testifies before the Senate Finance Committee on the president's proposed budget request for fiscal year 2023, on Capitol Hill in Washington on June 7, 2022. Nicholas Kamm/AFP via Getty Images

Treasury Secretary Janet Yellen said Sunday that high inflation would persist for the remainder of 2022 and that, while she expects the U.S. economy will cool, a recession is far from a sure bet.

“We’ve had high inflation so far this year, and that locks in higher inflation for the rest of the year,” Yellen said in an interview with ABC’s “This Week.”