Yellen interview on CNBC
- We do have to be concerned about inflation
- Inflation has reached a level that concerns most Americans
- 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
This is a different tone on inflation. There wasn't even a passing mention of transitory price rises.
- Powell and Brainard should have broad Senate support
- Economy 'on a strong growth spurt at the moment'
