The Secretary of the US Treasury admitted to Americans this week she was “wrong” about the “path” inflation would take under the Biden administration. "I think I was wrong then about the path that inflation would take," said Janet Yellen. "As I mentioned, there have been unanticipated and large shocks to the economy that have boosted energy and food prices and supply bottlenecks that have affected our economy badly that I didn't -- at the time -- didn't fully understand, but we recognize that now," she explained. Watch Yellen’s admission above.