5/4, 10:17 PM (Source: TeleTrader)
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Not recommending or predicting rates increase - Yellen

United States Treasury Secretary Janet Yellen stated on Tuesday that she was not recommending or predicting interest rate increases.

Clarifying her earlier comments, Yellen stated that she doesn't "recommend nor predict" interest rate increases and that while she believes that "inflation will not be a problem" there are tools available, primarily by the Federal Reserve, to help mitigate any potential fallout. She also asserted that due to "structural reasons" interest rates will remain low in the future.

Yellen's comments on there not being an "inflationary problem," echo earlier White House statements that the Biden administration is taking inflationary risks "very seriously."

Breaking the News / OL