ICYMI – US Treas Sec Yellen said more work is required to get inflation under control

<p>US Treasury Secretary Yellen spoke from Boston on Wednesday. Given the nature of her remarks I wonder if she has seen the CPI numbers due today already and is softening us up for disappointment? Maybe I'm being too suspicious. </p><p>Yellen:</p><ul><li>television prices are down by 28% from their peak</li><li>used cars and trucks are 11% cheaper</li><li>gasoline is down almost $2 a gallon since June 2022</li><li>the typical middle-class American household has "more wealth, higher earnings and more purchasing power than before the pandemic."</li></ul><p>Here's the "but", though:</p><ul><li>"Despite how far we've come, we know significant work remains to be done. For too many families, prices for goods that matter — such as groceries, rents and prescription drugs, are high" </li><li>pledged to use “all tools at our disposal” to bring costs down</li></ul><p>***</p><p>I posted earlier on the inflation data due at 8.30 am US Eastern time:</p><ul><li><a href="https://www.forexlive.com/news/here-is-what-to-watch-for-an-extreme-surprise-in-the-us-cpi-data-today-20240111/" target="_self">Here is what to watch for an extraeme surprise in the US CPI data today</a></li></ul><ul><li>U<a href="https://www.forexlive.com/news/us-cpi-data-due-thursday-11-january-2024-preview-20240111/" target="_self">S CPI data due Thursday 11 January 2024 – preview</a></li></ul><p>And, Adam:</p><ul><li><a href="https://www.forexlive.com/news/preview-what-to-look-for-in-the-december-us-cpi-report-20240110/" target="_blank" data-article-link="true">Preview: What to look for in the December US CPI report</a></li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.