Yellen: ‘slightly higher interest rate’ would be fine
Treasury secretary says US should push forward with spending plans
Janet Yellen, US Treasury secretary, said on June 6 that US president Joe Biden should pursue stimulus and infrastructure spending even if prices and interest rates rose in the short term.
“If we ended up with a slightly higher interest rate environment it would actually be a plus for society’s point of view and the Fed’s point of view,” she told Bloomberg.
Yellen was speaking after a Group of Seven finance ministers’ meeting in London, which came to a preliminary agreement to set a global
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