'There have been unanticipated and large shocks to the economy that have boosted energy and food prices,' she told CNN.
U.S. Treasury Secretary Janet Yellen during a May 18 news conference in Koenigswinter near Bonn, Germany. Photo: Ina Fassbender /AFP via Getty Images
U.S. Treasury Secretary Janet Yellen told CNN in an interview that aired Tuesday evening her assessment last year that inflation posed a short-term"I was wrong about the path inflation would take," Yellen told CNN's Wolf Blitzer on "The Situation Room." "There have been unanticipated and large shocks to the economy that have boosted energy and food prices and supply bottlenecks that have affected our economy badly that at the time I didn't fully understand. But we recognize that now," Yellen said.
"The shocks to the economy have continued, but inflation is the number one concern for President Biden," she added.