Remarks by US Treasury secretary, Janet Yellen
- Inflation is higher than in recent years but it is due to the pandemic
- Does not think US economy is overheating
- As inflation eases, economy isn't going to be overheating in the longer sense
And so the story continues, at least for now. I mean the factors driving the surge are no doubt transient in nature but unless the global economy picks up in synchronised fashion, the timeline for this 'transitory' narrative is rather convoluted at best.