Yellen Says Inflation Will Come Down by Next Year

Treasury Secretary Janet Yellen predicted on 60 Minutes that inflation would substantially decline by the end of 2023.

Said Yellen: “I believe by the end of next year you will see much lower inflation if there’s not an unanticipated shock.”

She also said a recession wasn’t inevitable: “There’s a risk of a recession but it certainly isn’t in my view something that is necessary to bring inflation down.”