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Yellen Says She Isn't Predicting Higher Interest Rates — 5th Update


Provided by
Dow Jones
By Kate Davidson
WASHINGTON Treasury Secretary Janet Yellen said Tuesday she is neither predicting nor recommending that the Federal Reserve raise interest rates as a result of President Biden s spending plans, walking back her comments earlier in the day that rates might need to rise to keep the economy from overheating.
I don t think there s going to be an inflationary problem, but if there is, the Fed can be counted on to address it, Ms. Yellen, a former Fed chairwoman, said Tuesday at The Wall Street Journal s CEO Council Summit.
Ms. Yellen suggested earlier Tuesday that the central bank might have to raise rates to keep the economy from overheating, if the Biden administration s roughly $4 trillion spending plans are enacted. ....

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