Yellen: People 'Are Beginning to Understand that Inflation's Coming Down' But We Won't Hit Inflation Target Until 2024

On Wednesday's broadcast of CNBC's "Squawk on the Street," Treasury Secretary Janet Yellen stated that "Consumers are beginning to understand that inflation's coming down." But "the level of prices in some cases is higher than it was before the pandemic. And people notice that," and she believes that inflation will likely be under 3% by the end of 2024.