Yellen says inflation coming down ‘meaningfully’

(Reuters) – U.S. Treasury Secretary Janet Yellen said on Tuesday she believes inflation is coming down “meaningfully,” and with inflation expectations under control it should not be particularly difficult to finish the “last mile” of the job of easing price pressures.

“I see no reason, on the path that we’re currently on, why inflation shouldn’t gradually decline to levels consistent” with the Federal Reserve’s 2% target, Yellen said at the Wall Street Journal’s CEO Council Summit. The economy continues to operate a “roughly full employment,” she said.

(Reporting by Andrea Shalal, writing by Ann Saphir)