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title: U.S. Treasury Secretary Janet Yellen Says Inflation Fight Is Top Priority for Biden | TIME
description: At its September meeting, the Federal Reserve again sharply increased its target interest rate by three-quarters of a percent. Asked his thoughts about what effect this tightening will on the overall economy, Chairman Jerome Powell remarked, “I wish there were a painless way…There isn’t.” Actually, there is a painless way: stop raising rates.
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# U.S. Treasury Secretary Janet Yellen Says Inflation Fight Is Top Priority for Biden

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<!-- video src="https://cdn.jwplayer.com/manifests/pVV5uYRA.m3u8" -->
## Video: U.S. Treasury Secretary Janet Yellen Says Inflation Fight Is Top Priority for Biden

[Watch (HLS stream): U.S. Treasury Secretary Janet Yellen Says Inflation Fight Is Top Priority for Biden](https://cdn.jwplayer.com/manifests/pVV5uYRA.m3u8) (2:36)

![U.S. Treasury Secretary Janet Yellen Says Inflation Fight Is Top Priority for Biden](https://cdn.jwplayer.com/v2/media/pVV5uYRA/poster.jpg?width=720)

_Published 2022-10-17. At its September meeting, the Federal Reserve again sharply increased its target interest rate by three-quarters of a percent. Asked his thoughts about what effect this tightening will on the overall economy, Chairman Jerome Powell remarked, “I wish there were a painless way…There isn’t.” Actually, there is a painless way: stop raising rates._


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Jul 28, 2023 4:46 AM UTC

---

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### Fed Chairman Jerome Powell Warns U.S. Economy Faces Deep Downturn With 'Significant Uncertainty'

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