The Secretary of the Treasury of the United States, Janet Yellensaid in preliminary version of his congressional testimony that the US economy is facing challenges from unacceptable levels of inflation“, as well as bottlenecks in supply chains, Reuters reported on Tuesday. It added that an adequate budget stance is needed to complement the Federal Reserve’s actions, to curb inflation without undermining the strength of the labor market.
Yellen said she is very focused on moving forward with the US proposal on a global corporate tax reform deal and says the president’s budget Biden suggests “smart and fiscally responsible investments” that will reduce the deficit. The US economy is entering a transition from recovery to steady and steady growth, the secretary said.
Source: Fx Street
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