WASHINGTON, DC - JULY 13: Federal Reserve Board Chairwoman Janet Yellen testifies before the Senate Banking, Houseing and Urban Affairs Committee in the Dirksen Senate Office Building on Capitol Hill July 13, 2017 in Washington, DC. Yellen testified during the hearing about "The Semiannual Monetary Policy Report to Congress." (Photo by Chip Somodevilla/Getty Images)

WASHINGTON (AP) — Treasury Secretary Janet Yellen has acknowledged that she and Federal Reserve Chair Jerome Powell “could have used a better word” than transitory when describing the expected run of inflation in the U.S. economy. Yellen says she remains hopeful it will decline. But she told the Senate Finance Committee on Tuesday that “I do expect inflation to remain high although I very much hope that it will be coming down now.” Yellen added that “bringing inflation down” should be the number one priority. Treasury and the Federal Reserve have been increasingly blamed by legislators and the public for allowing inflation to reach record highs.