TELETRADER News
5/4, 5:19 PM (Source: TeleTrader)
more TeleTrader news

Yellen says rates might have to rise to stop overheating

United States Treasury Secretary Janet Yellen said on Tuesday that interest rates may have to rise in order to keep the economy from overheating on the back of massive government stimulus.

"It may be that interest rates will have to rise somewhat to make sure that our economy doesn’t overheat," Yellen said at The Atlantic’s Future Economy Summit. "Even though additional spending is relatively small to the size of the economy, it could cause some very modest increases in interest rates," according to the Treasury secretary.

However, Yellen underlined that the measures are necessary for the US economy to be "competitive and productive." "I think that our economy will grow faster because of them," she concluded.

Breaking the News / JC