Yellen sees US inflation moderating by mid-to-late 2022 - NewsBreak

Inflation in the United States, pushed upward by pandemic-related supply and labor problems, should return to more moderate levels in the second half of next year, Treasury Secretary Janet Yellen said Sunday. With supply-chain woes slowing deliveries of a range of parts, including the semiconductors needed by automakers, and amid widespread labor shortages and still strong demand for products, US consumer prices in September were 5.4 percent higher than in the same month in 2020, raising concerns about economic recovery. But Yellen told CNN's "State of the Union" she sees a positive trend. "Monthly rates of inflation have already fallen substantially from the very high rates that we saw in the spring and early summer."