"Yellen's Warning: High Prices Here to Stay, Says Official"

Treasury Secretary Janet Yellen warns that while inflation has slowed, prices for most goods are unlikely to return to pre-pandemic levels, with some remaining higher. Yellen notes that wages have risen, offsetting the impact of higher prices for the median worker. Federal Reserve Chair Jerome Powell also anticipates a mixed impact on prices. High inflation has put financial strain on U.S. households, particularly affecting low-income Americans, with a recent survey showing growing pessimism about their financial situation under President Biden.