Janet Yellen: Inflation may have been slightly influenced by Covid stimulus.

• Janet Yellen, the Treasury Secretary, stated that the inflation problems in the country might have been slightly influenced by the stimulus spending during the Biden era.
• The increase in prices was mainly due to the Covid-19 pandemic, according to Yellen.

Janet Yellen, the Treasury Secretary, stated on Wednesday that the stimulus spending signed into law by President Biden to aid the U.S. recovery from the Covid-19 pandemic may have played a role in the country's subsequent inflation problems.

The increase in prices that negatively impacted the Democrat's administration was mainly due to the pandemic, according to Yellen in her exit interview with CNBC's "Money Movers."

Simply huge supply chain problems" were stated by her, and she added that "shortages of critical goods started pushing up prices a great deal.

Yellen stated that she believed the $1.9 trillion Covid relief bill and additional spending were necessary, and did not provide a direct response when asked about any regrets regarding the matter.

Biden took office during a pandemic that was "raging out of control," with thousands of people dying from the virus each month and a high unemployment rate threatening livelihoods.

She emphasized the significance of spending money to ease that suffering, saying, "It was really important."

Biden's Treasury Secretary, Yellen, 78, will be succeeded by Scott Bessent, a hedge fund executive, chosen by President-elect Trump.

Bessent's market experience is a valuable asset for a candidate seeking to lead the agency responsible for safeguarding the country's financial stability.

Yellen expressed pleasure at seeing someone with experience taking over, presumably, if confirmed by the Senate.

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