Washington - (dpa) - US Treasury Secretary Janet Yellen acknowledged the existence of errors in her previous assessments of the high inflation that the United States is currently witnessing.

"I think I was wrong then about the path inflation will take," Yellen told CNN on Tuesday, adding that she underestimated shocks to the economy from factors such as high energy prices and problems in the international supply chain.

And in May last year, Yellen said she did not expect inflation to become a problem. However, consumer prices rose in April by 8.3% compared to the same month last year.

And in a meeting with Yellen and Federal Reserve (Central Bank) Chairman Jerome Powell on Tuesday, US President Joe Biden stressed that fighting inflation is his top priority.

Meanwhile, Biden insisted he would continue to respect the independence of the Federal Reserve. Powell, for whom tackling high inflation in the United States is a priority, tried to use tighter monetary policy to combat high inflation.

Powell's re-election was confirmed by a large majority in the Senate three weeks ago, after Biden nominated him for another four-year term as Federal Reserve chairman in November.

Powell has been leading the central bank of the world's largest economy since February 2018, when then-President Donald Trump nominated him for the position. Prior to that, Powell had been a member of the central bank's board since 2012.