TELETRADER News
3/6, 1:50 AM
(Source: TeleTrader)
Yellen: Higher bond yields sign of economic recovery
United States Treasury Secretary Janet Yellen said on Friday that the recent rise in Treasury yields is a sign the economy is "getting back on track."
Speaking to PBS, Yellen noted that long-term interest rates have gone up as market participants are expecting a stronger recovery due to optimism regarding the $1.9 trillion stimulus package and COVID-19 vaccinations.
The Treasury secretary added she doesn't think markets expect inflation to rise above the 2% target anytime soon, but pointed out the Federal Reserve has the necessary tools to address inflation if needed.