WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Thursday that higher than expected U.S. consumer price index inflation data shows that “we have more work to do” to control inflation and the Biden administration was committed to taking steps to lower costs for Americans.
“As I said earlier this week, while there have been favorable indicators on easing of supply chain bottlenecks and softening of labor market pressures, we need to see sustained progress and bringing down inflation remains the President’s number one economic priority,” Yellen said in remarks prepared for delivery at a bilateral meeting with European Commission officials.
(Reporting by David Lawder; Editing by Chizu Nomiyama)