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Yellen: higher interest rates could persist in the US

Yellen: higher interest rates could persist in the US

The Secretary of the Treasury of the United States, Janet Yellensaid higher interest rates could persist, while insisting that the U.S. economy is “in a good place”.

The interest on the US debt, which represents 98% of economic output, “still manageable“, said Yellen on Monday in an interview with Sky News. “Higher interest rates may persist, although that is unclear“, he pointed. “Our fiscal situation is by no means unsolvable. We have to be attentive to it”.

The Treasury secretary also said that the United States can “absolutely” have the luxury of providing new aid to Israel in its fight against Hamas members and, at the same time, continuing to offer important aid to Ukraine.

Americans can certainly afford to back Israel and support its military needs.“, said. “And we can and should also support Ukraine in its fight against Russia”.

As the Israeli army prepares to invade Gaza to capture Hamas forces, Yellen He said it was too early to predict whether the conflict could tip the global economy into a recession.

“We are analyzing the economic implications of the hostilities here,” Indian. “I think it’s too early to speculate on whether there will be significant consequences or not. “I think it depends importantly on whether hostilities extend beyond Israel and Gaza, and that is certainly an outcome we would like to avoid.”

Yellen He spoke in Luxembourg, where he is preparing to meet with EU officials to discuss aid to Ukraine and economic policy toward China.

Source: Gestion

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