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U.S. Treasury's Yellen says ready to retire 'transitory' to describe inflation

WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen told the Reuters Next conference Thursday that she is ready to retire the word “transitory” to describe the current state of inflation plaguing the U.S. recovery from the COVID-19 pandemic.

“I’m ready to retire the word transitory. I can agree that that hasn’t been an apt description of what we’re dealing with,” Yellen said.

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