Yellen Says Rates ‘Unlikely’ to Return to Pre-Covid Levels
- Treasury chief answers question on new White House forecasts
- Yellen says new projections reflect market ‘realities’
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US Treasury Secretary Janet Yellen said it’s “unlikely” that market interest rates will return to levels that prevailed before the Covid-19 pandemic triggered a wave of inflation and higher yields.
Asked why White House projections released Monday showed markedly higher expectations for interest rates in coming years compared with projections a year ago, Yellen said the new numbers were in line with private sector forecasts.