Inflation hit 9.1% this week and has soared for 13 months since Treasury Secretary Janet Yellen told Americans that inflation in the United States would be 'transitory.'
Six months after the president said inflation hit its peak, the consumer price index hit a new 40-year high.
The United States has experienced 13 straight months of high inflation since the Biden administration dismissed concerns about rising costs and said the contributing factors were "transitory." "We have in recent months seen some inflation, and we — at least on a year-over-year basis — will continue, I believe through the rest of the year, to see higher inflation rates, maybe around 3 percent,"said about in inflation in early June 2021. "But I personally believe that this represents transitory factors."
Roughly a month later, in July, President Biden suggested there was no reason to worry about inflation and explained that it would be "temporary." "We also know that as our economy has come roaring back, we've seen some price increases," Biden said in a
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