US Treasury Department: Inflation will remain high until next year

According to IRNA, Yellen, the head of the US Treasury Department, in an interview with CNN predicted that inflation will remain high until next year because of what has already happened, but I expect it to improve by the second half of next year.

The annual inflation rate in the United States in September (2021) reached the highest level in the last 13 years, 5.4 percent.

The US Treasury Secretary cited issues related to the coronary heart disease and supply problems as some of the reasons for the recent rapid growth of inflation in the last 30 years in the United States.

Yellen explained that the Covid crisis significantly reduced the cost of services and led to a reallocation of costs to goods.

He also stressed that the supply of goods to Americans has increased significantly, but there is still pressure.

Inflation has been on the rise over the past two years with the outbreak of the Corona virus in the United States, and Larry Summers, a US economist and Treasury Secretary in the Barack Obama administration, has expressed concern about rising inflation in his country.

“I was worried for a long time, and now I am more worried,” Summers said in a video message.

“I think he’s wrong, I don’t think we’re losing control of inflation,” Biden Treasury Secretary Yellen told CNN.