The US is making “considerable progress” in bringing down inflation, which is especially notable given the labor market remains strong, Treasury Secretary Janet Yellen said Monday.
The annual inflation rate, as measured by the government’s consumer price index, has dropped to 3.2% in October from its 2022 peak of more than 9% after the Federal Reserve embarked on an aggressive campaign of interest-rate increases to cool price pressures.
Read More : Yellen Asserts Significant Headway in U.S. Inflation Reduction Efforts