Treasury Secretary Yellen says U.S. inflation will be lower by end of 2023

US Treasury Secretary Janet Yellen =speaking at podium
US Treasury Secretary Janet Yellen
(Image credit: ANDY JACOBSOHN / Contributor/ Getty Images)

U.S. Treasury Secretary Janet Yellen predicts that inflation in the U.S. will decrease significantly in 2023 as long as there are no unanticipated economic shocks.

"I believe inflation will be lower," Yellen said Sunday during a CBS News 60 Minutes interview. "I am very hopeful that the labor market will remain quite healthy so that people can feel good about their finances and their personal economic situation."

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