WASHINGTON: The US central financial institution’s determination to slash rates of interest this week is a “very constructive signal” for the place the world’s largest financial system stands, US Treasury Secretary Janet Yellen stated Thursday (Sep 19).
Yellen’s remarks got here a day after the Federal Reserve opted for an aggressive price reduce of half a share level, its first since 2020 as inflation cooled.
“It displays confidence on the a part of the Fed that inflation has come manner down and is on the trail again to the 2 per cent goal, and that the dangers with respect to inflation have actually meaningfully diminished,” Yellen informed an occasion in Washington.
“On the similar time, we now have a job market that is still sturdy,” she stated.
