The US Treasury expects a reduction of inflation to 2% by the end of 2022

Janet Yellen, head of the US Treasury Department, commended the results of the first year of Joe Biden’s presidency. In her opinion, the government has achieved a triumph in such a challenging time. Janet Yellen recalled what serious problems were a year ago. Unemployment was at a tall grade. And there were concerns about a possible recurrence of the situation observed in 2008. It took almost 10 years for the labor market to recover from the past crisis. Recently, unemployment in the United States has been declining rapidly, which is the success of the current government. At the same time, the head of the Finance Ministry admitted that the country’s economy is significantly far from ideal due to an inflation high level. Janet Yellen said she would still be above her 2% objective level in a term. However, as the pandemic eases, consumer price growth will begin to slow. By the end of this year, inflation may approach the target level.

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Arseny Kudrin

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