U.S. Treasury Secretary Janet Yellen noted on Tuesday that inflation is meaningfully coming down, and she sees no reason why it should not gradually decline to the Federal Reserve's 2% target.
The official also admitted that the U.S. labour market remains strong but is cooling with the wage increases continuing at a healthy pace. With inflation expectations well under control, it should not be particularly difficult to finish the last mile of the work of easing price pressures, Yellen added.
In addition, the U.S. Treasury Secretary said that the economy can continue to operate a roughly full employment.