homeWelcome, sign in or click here to subscribe.login
     


 

 

Business


Subscriber content preview

June 17, 2021

Yellen: administration is watching inflation closely

By MARTIN CRUTSINGER
AP Economics Writer

WASHINGTON — Treasury Secretary Janet Yellen assured Congress that the recent jump in inflation is being monitored very carefully by the Biden administration, but said again that any increase will prove temporary.

Testifying about Biden's $6 trillion budget proposal before the Senate Finance Committee, Yellen was asked Wednesday by Republican lawmakers about recent sharp gains in inflation, including a 5% rise in consumer prices for the 12 months ending in May, the biggest jump since 2008.


 
. . .


To read this story in full login or purchase a subscription.




Email or user name:
Password:
 
Forgot password? Click here.