The US Treasury Yellen knows that it is impossible to save the US from plunging into a doldrum if it is leveraging while the rest of the world is deleveraging. Therefore, she is asking the world to continue spending so that the US can take advantage of other countries again when the time comes for the US to deleverage.
She knows that the US is experiencing high inflation now and is in a discussion with China on the reduction of US-China tariffs. If the US inflation is just transitory as she said, there is no need to reduce the inflation pressure now.
By the way, it is supposed to be the US FED (Powell) to deal with the US inflation. This just goes to show that she has forgotten that she's no longer the US FED.
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