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business reporter Sue Lannin, wires

Janet Yellen says US inflation at 'unacceptable levels', ASX rises but banks make big losses on rate hikes

Janet Yellen World Bank United States Inflation Target Ukraine Australian Dollar North America Pandemic Recession

US Treasury Secretary Janet Yellen says inflation there is at unacceptable levels. (AP: Susan Walsh)

US Treasury secretary Janet Yellen has told the US Congress that North America was facing "unacceptable levels of inflation" and the Australian share market has regained some ground after yesterday's interest rate rise-fuelled slump.

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One subscription that gives you access to news from hundreds of sites

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