Treasury Secretary Janet Yellen tells CNN 'so far, so good' on the US battle against inflation, and that she expects a soft landing
During an exclusive interview with CNN’s Melissa Bell from Kyiv, Yellen said the Federal Reserve’s efforts to date to bring down inflation while maintaining a strong labor market appear achievable. “I would say, ‘So far, so good,’” said Yellen, a former Fed chair who led the central bank from 2014-2018. “Obviously there are risks, and the global situation we face is very uncertain,” she said. “There can be shocks from it.
She said it would be “inconceivable” for the United States — “whose currency, the dollar, serves as the world’s reserve currency; a country with the deepest most liquid financial markets where Treasuries are the ultimate safe asset” and “with a credit rating the United States has always had” — to default on its obligations. “It’s utterly essential to preserve that to avoid economic and financial catastrophe,” she told CNN.
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