Yellen Admits ‘Prices Are Not Likely to Fall’

Treasury Secretary Janet Yellen said in a recent interview that she believes Americans are aware that, despite President Joe Biden’s rhetoric on falling inflation, prices, on the whole, are not going to fall. Ms. Yellen made the remarks in a Jan. 25 interview on ABC News, in which she touted the administration’s Bidenomics policies and said she sees no reason why gloomy predictions for a recession this year would come true. “I think 2024 is going to be a very good economic year. That said, there are always risks,” Ms. Yellen told ABC News’ Elizabeth Schulze in the interview. The Treasury Secretary then addressed the matter of inflation, noting that the prices of essentials like rent and food “are maybe 20 percent higher than they were before the pandemic,” before adding that price increases have now “just about normalized.”...