Treasury Secretary Janet Yellen.
US Treasury Secretary Janet Yellen told reporters Friday that inflation is not becoming entrenched in the US economic picture, as analysts have begun to grow concerned that the rising prices in America seem resistant to the increasingly aggressive policy stance of the US Federal Reserve.
When asked about recent data showing persistent price rises in the consumer and producer sectors, she said, “I don’t believe it’s becoming embedded in the U.S. economy.”
She went on, “The way inflation would become embedded is if you saw expectations of inflation over the medium term rising to levels that are inconsistent with 2% inflation, and then those higher inflation expectations being built into wages and prices.”
She acknowledged the recent data releases show much more needs to be done on the policy side to lower inflation, however she does not believe it is entrenched. She said the fact there are policy measures available is one of the reasons why she “continues to believe that there is a path to lowering inflation while maintaining a strong labor market.”
She added, she has seen some prices, particularly in the areas of production and shipping, which have begun to come down.
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Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience in implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor in this space. Stuart has led the “Total Corporate Digital Integration” platform at Sandstone and works with Sandstone clients to help integrate all aspects of modern digital business. He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage and is the Co-Host of the energy news video and Podcast Energy News Beat.
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Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.