Treasury Secretary Janet Yellen emphasized the importance of focusing on the long-term inflation trend, stating inflation is 'moving decisively down' despite a recent report showing a rise in January's inflation figures. The S&P 500 and Nasdaq experienced significant sell-offs following the report but saw partial recoveries the next day. Yellen highlighted improvements in the economy, including lower gas prices, declining prices for eggs and cars, and wage increases, particularly for lower-income workers. She also discussed the U.S. economy's resilience compared to other advanced economies and the focus on supporting middle-class families and investments in clean energy.