On Tuesday Yellen, Biden and Powell met in the Oval office.

Yellen remarks now, speaking in an interview with CNN:

  • says inflation is the number one concern for President Biden
  • says Biden shares the Fed's priority for lowering inflation, believes strongly in fed independence
  • says she was wrong about the path inflation would take
  • cannot rule out further more inflationary shocks
  • says she is encouraged by falls in core CPI but oil prices remain high