Yellen: Inflation Is 'Temporary,' It Will 'Begin to Decline' to 'More Normal Level' 'By the Second Half' of 2022

During an interview aired on Friday's broadcast of CNN's "Situation Room," Treasury Secretary Janet Yellen said that she still thinks inflation is "temporary, although, I don't mean just a matter of a month or two." And "by the second half of the year, annual inflation rates will begin to decline toward their more normal level of around 2%."