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Tags: janet yellen | inflation | 8.3% | 2% | rate hikes | president biden | federal reserve

Yellen Calls 8 Percent Inflation 'Unacceptable'

Yellen Calls 8 Percent Inflation 'Unacceptable'
US Secretary of Department of the Treasury Janet Yellen speaks before Senate Finance Committee on President Biden's proposed budget for fiscal 2023 on June 7, 2022 on Capitol Hill. (AP)

Wednesday, 08 June 2022 11:25 AM EDT

U.S. Treasury Secretary Janet Yellen said on Wednesday that the current annual inflation rate of 8% is "unacceptable" for the United States and a 2% inflation target for the Federal Reserve is a "appropriate target" for the Federal Reserve.

Yellen, testifying before the U.S. House of Representatives Ways and Means Committee, also said that it was important to continue to reduce deficits in the current inflationary environment.

© 2022 Thomson/Reuters. All rights reserved.


StreetTalk
U.S. Treasury Secretary Janet Yellen said on Wednesday that the current annual inflation rate of 8% is "unacceptable" for the United States and a 2% inflation target for the Federal Reserve is a "appropriate target" for the Federal Reserve.
janet yellen, inflation, 8.3%, 2%, rate hikes, president biden, federal reserve
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2022-25-08
Wednesday, 08 June 2022 11:25 AM
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