Posted 3/13/2024, 8:43:00 PM
Yellen Walks Back Transitory Inflation Remark As Price Pressures Ease, Sees Possible Soft Landing For Economy
- Yellen regrets describing inflation in 2021 as “transitory”
- Inflation has come down from 9.1% peak in June 2022 to 3.2% in February
- Fed has hiked rates from near-zero to 5.25%-5.50% range to curb inflation
- U.S. economy could be heading for a "soft landing" with inflation slowing without triggering a recession
- Yellen optimistic about overall downward trend in price pressures but path may be bumpy month-to-month
