Yellen Says Fed Cut ‘Positive Sign,’ Policy Still Restrictive
- Treasury chief notes Fed officials’ predictions for more cuts
- Yellen says job market is healthy, can stay on this course
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Treasury Secretary Janet Yellen said that the Federal Reserve’s interest-rate cut Wednesday was “a very positive sign for where the US economy is,” reflecting progress in bringing down inflation and a determination to protect the job market.
“It reflects confidence on the part of the Fed that inflation has come way down and is on a path back to the 2% target, and that the risks with respect to inflation have really meaningfully diminished,” Yellen said at an event hosted by The Atlantic magazine Thursday. “The overriding concern or motive” now is to make sure that the job market “stays strong,” she said.