Janet Yellen Is Getting Trapped in the Blame Game Over Inflation (1)

It was supposed to have been a capstone. Instead, Janet Yellen’s stint as Treasury secretary threatens to become a stain on a storied career.

The former Federal Reserve chair was recruited to help steer the US economy out of the pandemic by lending her gravitas and credibility to the Biden administration’s pursuit of a robust and lasting recovery. It took some arm-twisting to persuade her to take the job.

Eighteen months later, Joe Biden’s presidency is in trouble, with inflation soaring to a 40-year high and Democrats on course for a wipeout in the midterm elections. The 75-year-old ...