Yellen: U.S. Inflation Down, But More Work Needed on Living Costs

U.S. Treasury Secretary Janet Yellen recently addressed the nation's economic condition, stating that high inflation has been largely due to fading supply shocks and has come down considerably. Despite the price increases, Yellen emphasized that people are generally better off, although she acknowledged that the prices of many goods remain higher than pre-pandemic levels. She also noted that more work is needed to reduce living costs.