Yellen remarks:

  • if the US is successful in controlling the pandemic she sees inflation easing over the course of 2022
  • Has confidence in the fed’s ability to make appropriate judgements on the economy
  • says the US Treasury is prepared to impose significant consequences on Russia over actions in Ukraine
  • there is a buffer stock of savings accumulated that will continue to support the
    economy in the years ahead, even when fiscal support is reduced

  • it is our hope and intention to bring inflation down to levels consistent with the Federal Reserve interpretation of price stability

  • responsibility for addressing inflation is shared by the Fed and the Biden adminstration