Yellen Says US Inflation Coming Down but Core Measures Remain Elevated
BENGALURU—U.S. Treasury Secretary Janet Yellen said on Friday that U.S. inflation was coming down but there was still more work to do to bring it in line with the Federal Reserve’s 2 percent annual target.
Yellen also told reporters on the sidelines of a G20 finance ministers and central bank governors’ meeting near the Indian tech hub of Bengaluru that she still believes that a “soft landing” without a recession is possible due to a strong labor market and strong U.S. balance sheets.
“Inflation is coming down if you measure it on a 12 month basis, but still core inflation, which I think will fall further, remains higher than is consistent with 2 percent,” she said, referring to the Fed’s target rate….