US Treasury chief says Fed's rate cut 'very positive sign' for economy

US Treasury chief says Fed's rate cut 'very positive sign' for economy

Janet Yellen says inflation risks 'meaningfully diminished,' wages rising faster than inflation

By Ovunc Kutlu

ISTANBUL (AA) - US Treasury Secretary Janet Yellen said Thursday that the Federal Reserve's interest rate cut of 50 basis points is "a very positive sign" for the American economy.

Yellen said the Fed's jumbo cut "reflects confidence" for the central bank that inflation has come down significantly and is on a path back to the bank's 2% target.

Risks regarding inflation have "meaningfully diminished," she told the Atlantic Festival 2024 in Washington, D.C.

The Treasury head said wages are rising at a good pace, faster than inflation, so employees are getting ahead in real terms.

Fed Chair Jerome Powell told a post-meeting news conference Wednesday that the labor market is in "solid condition" and the US economy is in "good shape."

"The upside risks to inflation have diminished and the downside risks to employment have increased, as inflation has declined and the labor market has cooled," he said.




Kaynak:Source of News

This news has been read 61 times in total

ADD A COMMENT to TO THE NEWS
UYARI: Küfür, hakaret, rencide edici cümleler veya imalar, inançlara saldırı içeren, imla kuralları ile yazılmamış,
Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.
Previous and Next News