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Treasury Secretary Janet Yellen on Sunday said the United States hasn't experienced the recent inflation levels in a "long time.".

"The COVID shock to the economy has caused disruptions that we'll be working through over the next year and of course Americans haven't seen inflation like we've experienced in a long time." .

Tapper later asked Yellen when she expects the inflation rate to return to the 2% level, which the Federal Reserve classifies as "acceptable.".

Monthly rates of inflation have already fallen substantially from the very high rates that we saw in the spring and early summer," Yellen said.

"On a 12-month basis the inflation rate will remain high into next year because of what's already happened, but I expect improvement by the middle to the end of next year – second half of next year.".

"I agree, of course, we are going through a period of inflation that's higher than Americans have seen in a long time, and it's something that's obviously a concern and worrying them, but we haven't lost control," Yellen added.

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