US Treasury Secretary Yellen spoke in a wide-ranging interview with CNBC on Wednesday.
You can find the full transcript here.
Some of the highlights:
-
Says I see a path to bringing down inflation while maintaining strong
labor market - Seeing some signs of
easing in labor market - We’ll continue to
see economic progress over the next two years in bringing inflation
down - Treasury continues
to be able to pay all of America’s bills - US now very focused
on investing in America - Bringing inflation
down is a top priority - Treasury expects
cash pile to be around $425b at the end of June - I do think there
will be issues with commercial real estate - Would not surprise
me to see some bank consolidation - Supports US
regulatory oversight over crypto to protect consumers, investors - Additional crypto
regulation would be appropriate, will work with Congress to see
additional legislation passed
Some cross-current in here comments on inflation, the S&P and NQ took the hawkish line (helped along by the Bank of Canada hiking rates?):
- Tending dovish: Seeing some signs of easing in labor market
-
Tending hawkish: Bringing inflation down is a top priority
(This
chart is from our charting app, which is free and can
be found at this link)
This article was originally published by Forexlive.com. Read the original article here.