Treasury Sec. Janet Yellen said Tuesday the U.S. faces 'unacceptable levels' of , after last week admitting she was wrong about how long the price hikes would last. 'We currently face macroeconomic challenges, including unacceptable levels of inflation, as well as the headwinds associated with the disruptions caused by the pandemic's effect on supply chains, and the effects of supply side disturbances to oil and food markets resulting from 's war in Ukraine,' she said at a hearing of the Finance Committee Tuesday. In order to tamp down price hikes, the federal government needed an 'appropriate' budget, coupled with tightening monetary policy at the , according to Yellen. She added that President Biden's budget request for FY 2023 would meet the moment.
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