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U.S. Treasury’s Yellen says ready to retire ‘transitory’ to describe inflation -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: Treasury secretary Janet Yellen pauses during testimony before a Senate Banking Committee hybrid committee hearing about oversight of Treasury Department and Federal Reserve on Capitol Hill, Washington, U.S.A, November 30, 2021. REUTERS/Elizabeth

WASHINGTON (Reuters), – U.S. Treasury secretary Janet Yellen said Thursday at the Reuters Next conference that she was ready to drop the term “transitory”, which describes the current level of inflation in the U.S. after the COVID-19 panic.

I’m willing to give up the term transitory. “I can confirm that this hasn’t been an apt description for what we’re dealing with,” Yellen stated.

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