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The Biden administration admitted on Thursday that there will be “several more months” of major inflation spikes as the overwhelming majority of Americans are worried about rising prices. “We will have several more months of rapid inflation,” Treasury Secretary Janet Yellen said. “So I’m not saying that this is a one-month phenomenon. But I think over the medium term, we’ll see inflation decline back toward normal levels. But, of course, we have to keep a careful eye on it.” However, top economists are warning that the inflation surge that is hitting Americans right now will last a lot longer than just a few additional months of surging prices. “Americans should brace themselves for several years of higher inflation than they’ve seen in decades, according to economists who expect the robust post-pandemic economic recovery to fuel brisk price increases for a while,” The Wall Street Journal reported. “The respondents on average now expect a widely followed measure of inflation, which excludes volatile food and energy components, to be up 3.2% in the fourth quarter of 2021 from a year before.”

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