Under attack from Republican lawmakers at a congressional hearing this week, Janet Yellen offered a spirited defence of Joe Biden’s efforts to bring down high inflation, the biggest threat to his presidency.
An 8 per cent inflation rate in the US was unacceptable and Biden’s “number one objective” was to get it down, the Treasury secretary told the House Ways and Means committee on Wednesday.
“We are by far not the only economy to face inflationary pressures like this,” she added.
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