Yellen Tells Senate Inflation Is ‘Unacceptable’ but Likely to Stay High

Inflation will remain elevated, Treasury Secretary Janet Yellen told the Senate Finance Committee, as the Biden administration continues to battle high prices that are denting American pocketbooks.

The U.S. faces “unacceptable” levels of inflation, she said. Supply- chain problems continue and Russia’s war in Ukraine has created imbalances in supplies of energy and food.