Yellen: Lowering inflation is Biden’s ‘top economic priority’ but there’s ‘more work to do’

Treasury Secretary Janet Yellen on Friday said lowering inflation is President Joe Biden’s “top economic priority,” but pointed to more effort ahead to wrestle price increases down. After referencing September inflation figures, Yellen said the Biden administration is “continuing to take a broad range of actions to boost energy supply, address housing constraints, and provide cost relief in areas like healthcare.” Speaking at a news conference as part of this year’s meetings of the IMF and the World Bank, Yellen said “it can take time to see the impact of these actions,” but that she’s confident they will make a difference. “Yesterday’s CPI report shows that we have more work to do to get price increases under control,” she said. In her statement Yellen also addressed coordinated efforts to pressure Russia as its war in Ukraine continues.