Yellen: Inflation is a valid policy concern


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Reuters headlines from Treasury Secretary Yellen_

This is what drives people insane about wonks. Yellen was driving the ‘transitory’ bus but as soon as it hits a few speed bumps, she hedges. At some point you need to either double down or fall on your sword.

I get the sense that the White House thinks her reputation carries some kind of weight in financial markets but it reall doesn’t.