Higher interest rates would be good for the country, says Treasury Secretary Yellen

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

United States Secretary of the Treasury Janet Yellen said the president Joe bidenThe $ 4 trillion spending proposal would be positive for the country, even if it pushes up interest rates.

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.”

Read Bloomberg’s Full Report Here.

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