U.S. Treasury Secretary Janet Yellen has warned of upcoming "unacceptable" levels of inflation in the country. Yellen made the remarks Tuesday as she testified before a Senate Finance Committee hearing on President Joe Biden's 2023 budget. Republicans have blamed Biden's $1.9-trillion spending bill for the country's highest inflation in 40 years. But Yellen rejected the claim during the hearing. She said U.S. inflation is likely to remain high as a result of the pandemic and the Ukraine crisis, which have severely disrupted global supply chains.