US Treasury Sec. Yellen: `Not worried' about a re-run of 1970s inflation

“Price pressures to subside as life normalizes in 2022,” US Treasury Secretary Janet Yellen said while crossing wires during late Monday night.  The policymaker expected, “Monthly CPI around 0.2% to 0.3% in H2 of 2022.”

Earlier, US Treasury Secretary Yellen spoke during a CNBC interview while saying, “Inflation has reached a level that concerns most Americans.”

Additional comments

We do have to be concerned about inflation.

Inflation partly a reflection of pandemic impact on the economy.

White House is doing everything it can to address bottlenecks.

Fed needs to play important role to make sure inflation doesn't remain endemic.

Market reaction

Market players consolidate recent gains following the news amid a quiet Asian session on Tuesday.