US Treasury Sec. Yellen: I was wrong about the path inflation would take
|"Inflation is number one concern for President Biden," US Treasury Secretary Janet Yellen said during a CNN interview on early Wednesday morning in Asia.
More quotes
Biden shares Fed's priority for lowering inflation, believes strongly in Fed independence.
She was wrong about the path inflation would take.
Encouraged by declines in core inflation but oil prices remain high.
Cannot rule out further inflationary shocks.
Market reaction
Markets paid a little heed to Yellen’s comments amid a generally quiet early Asian session. That said, the AUD/USD pair pauses the day-start recovery moves around 0.7180 at the latest.
Read: AUD/USD Price Analysis: Trades mixed below 0.7200 ahead of Aussie GDP, rising wedge eyed
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