Treasury Secretary Janet Yellen on Sunday didn’t say whether she was confident inflation would stabilize by next year’s November midterms, tying the economy’s fate to the state of the pandemic, Politico reports.

“It really depends on the pandemic. The pandemic has been calling the shots for the economy and for inflation,” Yellen said on CBS’ “Face the Nation.“ “And if we want to get inflation down, I think continuing to make progress against the pandemic is the most important thing we can do.”

Yellen acknowledged that Americans are seeing “big increases in prices” for everyday essentials like gasoline and groceries. The Treasury secretary said these spikes will ease as the economy recovers from Covid.

“You know, when the economy recovers enough from Covid, the demand patterns, people go back to eating out, traveling more, spending more on services, and the demand for products, for goods begins to go back to normal,” she said. “And also, labor supply has been impacted by the pandemic. Labor force participation is down; it hasn’t recovered.... Read More: Politico