Inflation is coming down faster than most economists expected, but Americans hoping for a widespread drop in prices may be disappointed, according to Treasury Secretary Janet Yellen. While testifying before the Senate Banking Committee on Thursday, Yellen admitted that prices for most items are unlikely to return to where they were before the inflation crisis […]
Tag: Janet Yellen
Yellen says U.S. will default on it’s debt by June 1
Treasury Secretary Janet Yellen warned lawmakers Monday that the federal government could run short of money to pay its bills as early as June 1 unless the debt ceiling is raised soon. Yellen acknowledged the date is subject to change and could be weeks later than projected, given that forecasting government cash flows is difficult. […]
Yellen warns US & China decoupling would be ‘disastrous’
US Treasury secretary Janet Yellen has warned any effort to decouple from China would be “disastrous”, saying national security measures targeted at Beijing were not designed to “stifle” the Chinese economy. In a major speech on Thursday, Yellen called for a “constructive and fair” economic relationship between China and the US, as Washington seeks to […]
Yellen Says Rate Hikes Will Slow As Inflation Stays Low
The Federal Reserve could scale back on its expected pace of interest rate hikes if inflation continues to be soft, Chair Janet Yellen told Congress. Under questioning over why the central bank remains committed to normalizing policy even as price and wage pressures remain muted, Yellen said the Fed is aware of the softness in […]
Despite Trump Boasts, Job Numbers Identical To Obama
President Donald Trump on Friday flipped his approach to the government’s employment report, celebrating the kind of strong showing he dismissed as phony under President Barack Obama. The Labor Department reported that the economy created 235,000 jobs in February, above the 190,000 consensus, allowing the president to claim that business enthusiasm over his approach to […]