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1/19, 6:45 PM (Source: TeleTrader)
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Yellen: Interest rates likely to remain low in the future

United States President-elect Joe Biden's Treasury secretary nominee Janet Yellen stated on Tuesday that it is "likely" that the interest rates remain low in the future "for a long time."

However, she has also warned at her confirmation hearing before the Senate Finance Committee that "there is a risk that the interest rates can rise" and that it has to be taken into account when "crafting a sustainable and responsible policy."

Speaking about the consequences of the economic stimulus measures aimed to alleviate the impact of the coronavirus pandemic, she claimed that "research from other countries suggests that, often, spending money to address weak economy ends up creating a lowered debt burden in the long run."

Breaking the News / MS