Treasury Sec. Yellen: I Expect Inflation to Get Back to the 2% Range by the Second Half of Next Year
‘Monthly rates of inflation have already fallen substantially from the very high rates that we saw in the spring and early summer’
TRANSCRIPT:
TAPPER: "When do you expect the inflation to get back to the 2 percent range, which is considered normal? 2022? 2023? When?"
YELLEN: "Well, I expect that to happen next year. Monthly rates of inflation have already fallen substantially from the very high rates that we saw in the spring and early summer. On a 12-month basis, the inflation rate will remain high into next year because of what's already happened. But I expect improvement by the end of — by the middle to end of next year, second half of next year."
TAPPER: "Second half of 2022."
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