Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Araghchi to Grossi: These parties will bear responsibility for the consequences of their actions
Araghchi to Grossi: Iran will respond to any unlawful action by European countries or parties attempting to turn the Agency into a tool for achieving their objectives
Araghchi to Grossi: We urge the Agency to warn against the consequences of any political move against Iran
Araghchi to Grossi: We call on the Agency to highlight Iran’s full cooperation during the upcoming Board of Governors meeting next week
Araghchi to Grossi: We demand that the Agency reflect the facts in a manner that prevents certain parties from exploiting it to advance their political agendas
Iranian Foreign Minister Abbas Araghchi holds a phone call with IAEA Director General Rafael Grossi
Trump envoy Witkoff has sent 'detailed and acceptable proposal' to Iran for nuclear deal; it's in their best interest to accept it: White House Press Secretary Leavitt
Hamas official says Witkoff's position toward group was 'unfair' and shows 'complete bias' to 'Israel'
Hamas official says it has considered Witkoff's proposal acceptable for negotiations, says 'Israel's' response was incompatible with what the group agreed on
Hamas official says group has not rejected Wikoff's proposal for Gaza ceasefire

US Treasury: Inflation causing great economic insecurity in US

  • By Al Mayadeen English
  • Source: Agencies
  • 22 Sep 2022 23:33
  • 2 Shares
3 Min Read

Janet Yellen, the Secretary of the US Treasury, said that she predicts inflation will come down next year.

  • x
  • US Treasury: Inflation causing great economic insecurity in US
    Although inflation may not become an endemic, poverty and economic insecurity in the US have been, for a long time, a perpetual issue. 

Janet Yellen, the Secretary of the US Treasury, remarked that inflation at home is causing a great sense of economic insecurity and that she hopes it does not become endemic - despite that experts have been warning that inflation may become rooted in the US economy. 

"I think inflation has been running at unacceptably high rates, it is a huge issue for every American household, it's leading to a great sense of economic insecurity for Americans, and we don't want to see it become endemic," Yellen said in an event hosted by The Atlantic. 

Yellen said that she predicts inflation will come down next year, in addition to the country being vulnerable to supply chain shock which has come as a result of the war in Ukraine. 

In addition, Yellen said the Federal Reserve may not meet its 2% target for inflation next year, despite the interest rate hikes that the Fed has been implementing. 

"It may not happen by 2023 but I have full confidence in the Fed’s ability to bring it down," she said.

Related News

US Envoy calls Hamas ceasefire response 'totally unacceptable'

17 Palestinians killed in US-Israeli designated aid zones in Gaza

The Fed, to preserve public opinion, promised to ameliorate inflation - which is nearing 8% - back to its 2% goal. 

On Wednesday, the Federal Reserve raised the federal funds rate by 75 base points to between 3% and 3.25%.

Nonetheless, the Fed’s measures have had little effect on inflation, as per a report by the Bureau of Labor Statistics' recent monthly Consumer Price Index (CPI), which remains at a 40-year high point, and a more substantial rate hike expectation by the central bank has kept Wall Street stocks down for weeks.

Despite the fact that higher interest rates are supposed to limit intra-bank loans and thus create new money, the Economic Policy Institute found in an April study that corporate profits accounted in the last two years for 54% of inflation in the US. This means that the problem is price speculation, not overeager lenders.

It is worth noting that the economic situation which is affecting the financial standpoints of American families and businesses is burdening US President Joe Biden's popularity, which will affect his chances of winning the midterm congressional elections which will take place in early November. 

Read next: Severe US recession may be unavoidable

  • Janet Yellen
  • US Treasury
  • United States

Most Read

US judges quietly consider private security amid Trump tensions

US judges quietly consider private security amid Trump pressures

  • US & Canada
  • 25 May 2025
President Donald Trump and Israeli Prime Minister Benjamin Netanyahu arrive to a news conference in the East Room of the White House, Tuesday, Feb. 4, 2025, in Washington (AP)

Rift widens: Trump, Netanyahu clash in heated phone call over Iran

  • Politics
  • 26 May 2025
An Israeli army vehicle moves in the Gaza Strip as seen from southern occupied Palestine, Thursday, May 29, 2025 (AP)

Hamas rejects Witkoff ceasefire plan, says alters terms

  • Politics
  • 29 May 2025
Spokesperson for the Yemeni Armed Forces, Brigadier General Yahya Saree, announces a new operation against Ben Gurion Airport on May 29, 2025 (Yemeni Military Media)

Yemen announces successful hypersonic missile strike on Ben Gurion

  • Politics
  • 30 May 2025

Coverage

All
War on Gaza

Read Next

All
MIT bans class president who gave pro-Palestine speech
US & Canada

MIT bans class president over pro-Palestine speech

Arab ministers condemn Israel 'ban' on planned West Bank visit
Politics

Arab ministers condemn Israeli ban on planned West Bank visit

Major General Hu Gangfeng, Vice President, National Defense University, People's Liberation Army, China, leaves after a panel discussion during the 22nd Shangri-La Dialogue summit in Singapore, Saturday, May 31, 2025. (AP Photo/Anupam Nath)
Politics

China blasts Hegseth, calls US top 'troublemaker' in Asia-Pacific

US activists demand shutdown of Musk's 'dirty' supercomputer: Reports
Technology

US activists demand shutdown of Musk's 'dirty' supercomputer: NBC News

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS