WASHINGTON: The US central bank’s decision to slash interest rates this week is a “very positive sign” for where the world’s biggest economy stands, US Treasury Secretary Janet Yellen said Thursday (Sep 19).
Yellen’s remarks came a day after the Federal Reserve opted for an aggressive rate cut of half a percentage point, its first since 2020 as inflation cooled.
“It reflects confidence on the part of the Fed that inflation has come way down and is on the path back to the two per cent target, and that the risks with respect to inflation have really meaningfully diminished,” Yellen told an event in Washington.
“At the same time, we have a job market that remains strong,” she said.
