Yellen on Gas Price Surge: Gas Prices Lower than Peak, Inflation News 'Overall Excellent'

On Monday's broadcast of CNN's "OutFront," Treasury Secretary Janet Yellen stated that the recent jump in the price of gas is in part due to increases in demand due to the summer driving season and some "global factors." But that gas prices are much lower than they were at their peak last year and that while gas prices are "an area of uncertainty" and there still are some risks, "more broadly, inflation has come way down," "So, I think the inflation news has been overall excellent."