Treasury Secretary Yellen: Bidens #1 priority is to bring down inflation

Treasury Secretary Yellen on Bloomberg says:

• Pres. Bidens #1 priority is to bring down inflation.
• We do not wish to disengage with China economically but there should be a level playing field
• Any action should be targeted and not broadbased.
• Hopefully we will not see a significant Chinese response but it is always a possibility
• Tax revenues should be used to lower the deficit
• interest rates aregenerally lower than they have been.
• Higher interest rates complicate fiscal challenges.

The US CPI data will be released on Wednesday at 8:30 AM ET.

Looking at the chart below, the total CPI and the Core CPI have moves lower since peaking near 9% (for headline). However, both measures have stalled near 3%. The Fed targets 2%.