Treasury Sec. Yellen: ‘I Do Think We Have to Be Concerned About Inflation’

EXCERPT:

YELLEN: "Well, I think we do have to be concerned about inflation. It’s reached the level that concerns most Americans who are seeing it in their pocketbook when they go to the store to buy food or to fill up their cars at the pump. I think it’s partly a reflection of the fact that pandemic has had a severe influence in our economy and it's part of a demand/supply imbalance in getting on track, but the administration, the White House is doing everything we can to address supply chain bottlenecks that are boosting prices. And over the longer run, the Fed needs to play an important role to make sure that this doesn't become endemic, and I know they can be counted on to do that."