© Reuters. FILE PHOTO: U.S. Treasury Secretary Janet Yellen speaks throughout a information convention, after attending the G7 finance ministers assembly, at Winfield Home in London, Britain June 5, 2021. Justin Tallis/Pool by way of REUTERS
(Reuters) – U.S. Treasury Secretary Janet Yellen mentioned that President Joe Biden’s $4 trillion spending plan can be good for the U.S., even when it contributes to rising inflation and ends in larger rates of interest, Bloomberg Information reported.
“If we ended up with a barely larger rate of interest atmosphere it will really be a plus for society’s perspective and the Fed’s perspective,” Yellen mentioned in an interview with the outlet on Sunday. https://bloom.bg/34Vf35T
“We have been combating inflation that is too low and rates of interest which can be too low now for a decade,” the report quoted Yellen as saying.
“We would like them to return to” a traditional rate of interest atmosphere, “and if this helps a bit bit to alleviate issues then that is not a foul thing- that is an excellent factor,” Yellen added.
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