Higher interest rates would be good for the country, says Treasury Secretary Yellen
U.S. Treasury Secretary Janet Yellen speaks at a press conference, after attending the G7 Finance Ministers’ Meeting, at Winfield House in London, Britain, June 5, 2021.
Justin Tallis | Rueters
In an interview with Bloomberg NewsThe former Federal Reserve chairman said the president’s plans would total around $ 400 billion each year – a level of spending she said was not enough to create an inflation overrun.
“If we ended up with a slightly higher interest rate environment, it would actually be a plus for the company and the Fed’s perspective,” Yellen told Bloomberg.
“We have been fighting for a decade against too low inflation and too low interest rates,” she said. She added that if the packages help at all “soften things up, that’s not a bad thing – it’s a good thing.”