耶伦重申拜登政府的观点，认为通胀飙升反映了经济瓶颈及与重新开放相关的挑战，“我相信这是暂时的，通胀会在不太远的将来回落到正常水平。”Janet Yellen, US Treasury Secretary, said that month-on-month price increases would be in line with the Fed's targets by the end of the year, even though year-on-year increases would continue to show uncomfortably high inflation.
Ms Yellen told reporters after attending several meetings and events in Atlanta on Wednesday that year-on-year price increases would remain high "for some time", "but I expect month-on-month growth to fall to a level consistent with the Fed's explanation of price stability by the end of the year."
The Fed's inflation target is for the Department of Commerce's personal consumption expenditure price index to rise by an average of 2% over a period of time. The index rose 4 per cent in June from a year earlier, the fastest pace since 2008.
Yellen reiterated the Biden administration's view that the surge in inflation reflects economic bottlenecks and challenges associated with reopening. "I believe this is temporary and inflation will return to normal in the not-too-distant future."