U.S. Treasury Secretary Janet Yellen announced on the 26th (local time) that the U.S. economy is on its way to a soft landing.
According to CNBC and Market Watch, Treasury Secretary Yellen pointed out in a live interview with CNBC that economic indicators related to the labor market and prices show that the U.S. economy is on the path to a soft landing.
Secretary Yellen emphasized, “I always believed that there was a path to a soft landing and that we could lower inflation while maintaining a strong labor market,” and added, “The data shows that that has happened.”
At the same time, Secretary Yellen said that she is working to lower housing costs while leaving the ‘last ‘mile’ to calm inflation, which is the Biden administration’s top priority.
Minister Yellen added that there is ample reason to believe that housing costs will also fall.
In addition, Treasury Secretary Yellen predicted that interest rates will continue to fall toward a neutral policy stance, given recent remarks by Federal Reserve officials.
Previously, the Federal Reserve implemented a big cut last week, lowering the benchmark interest rate by 0.50% point.
Treasury Secretary Yellen emphasized that the administration must reduce the fiscal deficit to keep interest rate costs at a manageable level in the long term.
However, Secretary Yellen added that she believes it is important for the Biden administration to continue investing in areas that can promote growth in the future.
Regarding the stability of the financial system, Minister Yellen expressed the perception that bank capital is abundant and abundant, but explained that measures are being taken to strengthen liquidity after a large number of deposits were withdrawn from some banks due to the unsecured deposit crisis in 2023.
[서울=뉴시스]
-
- great
- 0dog
-
- I’m sad
- 0dog
-
- I’m angry
- 0dog
-
- I recommend it
- dog
Hot news now
2024-09-27 08:13:52