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Yellen says US inflation trend is down, 'mistake' to focus on minor fluctuations
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DETROIT (Reuters) — U.S. Treasury Secretary Janet Yellen said on Wednesday that recent consumer price inflation data was «a tad higher» than expectations, but market participants should focus on longer-term declines in inflation trends and a strong economy.
«I think it is a tremendous mistake to focus on minor fluctuations and to have failed to see the longer-term and bigger trends. And the trend here is that inflation is moving decisively down.» Yellen told the Detroit Economic Club, where she appeared together with Michigan Governor Gretchen Whitmer.
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