Yellen expects prices to return to "normal levels" once pandemic recedes

Key Facts

• But I don't mean to suggest that these pressures will disappear in the next month or two," Yellen told "CBS Evening News" anchor and managing editor Norah O'Donnell on Tuesday.
• A huge waiting to get into ports in Southern California has helped drive up the costs of goods and services during the pandemic.
• "There may be isolated shortages of goods and services in the coming months," Yellen said.
• "It's absolutely necessary for Congress to take action to raise or suspend the debt limit," Yellen said, adding that it could "absolutely" lead to a recession.

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