Janet Yellen expects Trump's tariffs will hike inflation to 3% year over year
Former Treasury Secretary Janet Yellen predicts President Donald Trump’s tariffs will cause prices to rise and average household income to fall, despite a slowing trend in the U.S. inflation rate.“I would expect inflation, on a year-over-year basis of this year, to shoot up to at least 3%, or slightly over, because of the tariffs,” Yellen said Thursday on CNBC’s “Money Movers.”The Biden-era Cabinet secretary made that prediction even as she noted that when it comes to Trump’s tarif
Former Treasury Secretary Janet Yellen predicts President Donald Trump’s tariffs will cause prices to rise and average household income to fall, despite a slowing trend in the U.S. inflation rate.“I would expect inflation, on a year-over-year basis of this year, to shoot up to at least 3%, or slightly over, because of the tariffs,” Yellen said Thursday on CNBC’s “Money Movers.”The Biden-era Cabinet secretary made that prediction even as she noted that when it comes to Trump’s tarif
What's Your Reaction?
