US Treasury Secretary Yellen spoke on on CBS' "Face the Nation."
(As did Minneapolis Fed president, Neel Kashkari)
Yellen on her outllok for the economy and inflation:
- It really depends on the pandemic. The pandemic has been calling the shots for the economy and for inflation
- And if we want to get inflation down, I think continuing to make progress against the pandemic is the most important thing we can do.
And, further:
- And also, labor supply has been impacted by the pandemic. Labor force participation is down; it hasn't recovered.
