In two different interviews with CNN and CNBC News on Friday, the United States Secretary of the Treasury, Janet Yellen, has touched on various topics, including rising inflation, supply chain crisis, economic recovery and the infrastructure spending bill.
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Price increases are expected to normalize in the second half of next year.
She is hopeful and hopes that Congress pass both the infrastructure bill and the broader spending bill.
We should focus on what is in the bill of social and climate spending, not on what has been dropped from the project.
The spending bill includes very significant investments to address the existential threat of climate change.
Spending on both measures is fully paid for and will occur gradually over nearly a decade.
Inflation is still seen as temporary, but it doesn’t mean a month or two.
It is expected that energy prices begin to moderate in the coming months.
It is expected that unemployment will decline further in the coming months.
Spending packages will reduce some of the most important costs, which tends to push inflation down.
The global minimum tax deal it will not have any significant impact on direct investments worldwide.
The global tax deal involves relatively modest tax increases and will create more certainty about tax rates.
The deal will ensure that all countries can charge more from corporations and pay their fair share.
Supply chain bottlenecks are holding the U.S. economy back, but GDP growth will pick up.
It will take a while to increase the supply of semiconductors
Semiconductor supply shortages are expected to be addressed in the medium term.
Some of the fiscal stimulus will wear off, but households have built up a lot of savings, so consumer spending should remain “pretty healthy.”.
Inflationary pressures are related to a unique shock to the economy.
Monthly inflation rates have dropped from just 4-5 months ago and the process continues.
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