Posted 2/14/2024, 5:55:23 PM
Yellen: Inflation Cooling as Prices Fall, Wages Rise; Touts Economic Progress on Battleground State Tour
- Yellen says inflation is moving decisively down and market reaction to latest data was a "tremendous mistake"
- Price increases have subsided close to the Fed's 2% target; wages rising faster than prices
- Visiting battleground states Michigan and Pennsylvania to tout Biden policies and economy
- Gas prices have fallen $1.90/gallon from 2022 high; other goods like eggs and cars also dropping
- Would choose to have lunch with John Maynard Keynes, an influential 20th century British economist