Janet Yellen's Insight on the Last Mile and Inflation Targets

Former Fed Chair Janet Yellen expressed confidence that inflation will gradually decline to levels consistent with the Fed's mandate, stating that she sees no reason to believe the last mile of achieving the target inflation rate of 2% will be particularly challenging. Yellen also dismissed concerns about a wage-price spiral and high inflation expectations. If current Fed Chair Jerome Powell echoes Yellen's sentiment, it could lead to market celebration and a decline in the value of the dollar.