Janet Yellen addresses a Chinese cyber attack on US Treasury systems, acknowledging its impact on US-China relations. She also admits COVID-related stimulus spending may have contributed to inflation and defends the blocked US Steel-Nippon Steel merger,

Treasury Secretary Janet Yellen joins CNBC's 'Money Movers' to reflect on her tenure in the Biden administration.

The Biden administration’s spending on stimulus to keep the economy going during the COVID pandemic may have contributed a little bit to inflation, Treasury Secretary Janet Yellen said in an interview on CNBC on Wednesday.

Treasury Secretary Yellen, after years of denying or ducking the issue, is conceding that President Biden’s Covid-19 stimulus package contributed to the soaring prices of the past four years but insists its impact was minimal.