Tags: yellen | inflation | housing | costs

Yellen: Rents, Mortgages Keeping Inflation High

Yellen: Rents, Mortgages Keeping Inflation High
(Dreamstime)

Tuesday, 09 July 2024 11:38 AM EDT

Rent and housing costs are keeping U.S. inflation higher than preferred but consumer prices will continue to come down over time as inflationary factors including supply issues and labor market tightness have eased, Treasury Secretary Janet Yellen told U.S. lawmakers  Tuesday.

"I believe that it (inflation) will continue to come down over time. Rents and housing costs continue to leave it higher than we would ideally like," Yellen told the U.S. House panel on financial services.

"Although the labor market was initially very tight, now we have a strong labor market, but one with fewer pressures that would create inflationary concern, so inflation is coming down," she said.

© 2024 Thomson/Reuters. All rights reserved.


StreetTalk
Rent and housing costs are keeping U.S. inflation higher than preferred but consumer prices will continue to come down over time as inflationary factors including supply issues and labor market tightness have eased, Treasury Secretary Janet Yellen told U.S. lawmakers.
yellen, inflation, housing, costs
108
2024-38-09
Tuesday, 09 July 2024 11:38 AM
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