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Yellen Clarifies Inflation Remark, Sees No Need for Fed to Hike

  • Treasury chief says she wasn’t predicting rate hikes
  • Yellen ruffled financial markets earlier with remarks
Bloomberg business news
WATCH: Yellen rattled markets with comments she made on inflation and rates during an intervtew. She later clarified her comments. Kathleen Hays reports.(Source: Bloomberg)
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Treasury Secretary Janet Yellen said Tuesday afternoon she wasn’t forecasting interest-rate increases to rein in any inflation spurred by President Joe Biden’s proposed spending, clarifying comments that ruffled financial markets a few hours earlier.