Treasury Secretary Janet Yellen said she regrets describing inflation in 2021 as “transitory‚” the term several Federal Reserve and Biden administration officials used to describe the pandemic-induced price surges they initially thought would be temporary. “I regret saying it was transitory. It has come down. But I think transitory means a few weeks or months to most people‚” Yellen said during an interview with FOX Business Network’s Edward Lawrence on Monday.