The president's Treasury Secretary says the trend for inflation is
heading in the right direction,
but there's still a long way to go.
Edward Lawrence of Fox Business spoke exclusively with Treasury Secretary
Janet Yellen today.
Treasury Secretary Janet Yellen on a spending tour in Elizabethtown,
KY. She toured an EV battery housing maker utilizing tax
breaks in the Inflation Reduction Act.
America's growth isn't meaningful if the gains are not shared.
She's had for an exclusive interview covering a range of
topics,
starting with inflation. Say that inflation was transitory.
Do you regret saying that now?
I regret saying it was transitory.
It has come down. But I think transitory means a
few weeks or months to most most people.
In the latest CPI inflation report,
overall prices are up 18,
1/2% from the month President Biden came into office.
If you go back and look at month over month,
December, January and February, it showed an increase of inflation.
Is inflation coming back? We'll look Inflation is down almost
2/3 from the high it reached in 2022,
and the trend is clearly a favorable one.
Secretary Yellen, defending President Biden's proposed budget,
which calls for removing tax rebates and tax increases on
corporations as well as billionaires.
Can you tax your way into prosperity?
Well, look, I think deficits,
we need to be on a fiscally sustainable path,
and it's important to bring down deficits.
It's also critically important to.
Invest in the economy. In ways that will be felt
all through America on the controversy over the Financial Crimes
Enforcement Network,
or FIN CEN, urging banks to search for certain words
in credit card transactions,
she claims it's a suggestion.
Does Vincent still routinely ask banks to scan for certain
terms?
It doesn't require them to scan for particular words,
but it.
Works with banks and suggests ways in which they may
be able to detect.
Illicit payments? Does it include Go Fund Me and Eventbrite?
With the list of words you don't,
I'm certainly not aware of anything.
At the Treasury Department, still investigating the legality of the
practice,
and a Treasury official tells us that this all started
under the Trump administration.
Brett Edward Lawrence. Thanks.