US Treasury Secretary Janet Yellen, speaking at a Reuters Next event, said Thursday that a strong US economy, which could likely lead to interest rate hikes, is generally good for the world and emerging markets.
“It is up to the Federal Reserve to decide when to raise interest rates“.
“I don’t want a wage price spiral to develop in which inflation becomes chronic.”
“It’s the Fed’s job is make sure we don’t have a wage price spiral seen in the 1970s. “
“I learned while serving as chair of the Federal Reserve the avoid surprises for the markets on any rate increase. “
“We are working with semiconductor manufacturers, but it takes a long time to increase production.”
“Tariffs contribute to higher prices.”
“Some Trump-era tariffs create problems without having any ‘real strategic justification’“.
“Lowering tariffs through the ‘exclusion process’ could be helpful, but not a ‘game changer’.
“Omicron variant could cause ‘significant problems’ for the economy, is still being evaluated. “