The White House is considering reductions in tariffs on Chinese imports as it seeks to tame the hottest inflation in four decades, Treasury Secretary Janet Yellen said.
The Macro Compass founder Alfonso Peccatiello discusses how the Fed is handling inflation and why it’s impacting the stock market.
While testifying before the House Ways and Means Committee, Yellen said the Biden administration is looking to reconfigure some of the Section 301 tariffs on Chinese goods imposed by former President Donald Trump in order to be "more strategic" to trade abuses by Beijing. "I think some reductions may be warranted and could help to bring down the prices of things that people buy that are burdensome," Yellen said.
Treasury Secretary Janet Yellen speaks during a virtual roundtable with participants from Black Chambers of Commerce across the country to discuss the American Rescue Plan, Friday, Feb.
Yellen was grilled over inflation during her two-day appearance on Capitol Hill, in which she said the U.S. faces "unacceptable" levels of inflation as a result of the COVID-19 pandemic and the Russian war in Ukraine.
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