(Bloomberg) -- Treasury Secretary Janet Yellen said the outlook for higher interest rates over the long haul makes it tougher to contain US borrowing needs, ...
-- Treasury Secretary Janet Yellen said the outlook for higher interest rates over the long haul makes it tougher to contain US borrowing needs, heightening the importance of boosting revenue in negotiations with Republican lawmakers.Hungary Wants to ‘Redefine’ Its NATO Membership, Orban Says“We’ve raised the interest-rate forecast,” Yellen noted Friday in an interview with Bloomberg News . “That does make a difference.
Soaring interest rates are a key reason why the outlook has worsened. The Federal Reserve aggressively raised rates beginning in 2022 to combat inflation, making it more expensive for the government to service its debt. While Trump has pledged to extend the cuts, President Joe Biden wants to preserve reductions only for those earning less than $400,000 a year.
Her views on where borrowing costs will settle over time have appeared to shift. Last October, she said “it’s perfectly possible that we will see longer-term yields come down,” as many underlying trends that had depressed them in the past were “still there.” “It is based on looking at the experience in other countries, the historical experience in the United States, our gut instinct,” Furman said in an interview last May. “I’m not positive it’s right.”
Russia has deployed units from its Africa Corps, which consists of former Wagner Group mercenaries, to fight in the Kharkiv region.Anna Moneymaker/GettySen. Tom Cotton , who is reportedly a top contender for Donald Trump’s vice presidential pick, has jumped on the bandwagon of flying the Christian nationalist “Appeal To Heaven” flag.Cotton proudly announced on social media that he had installed the flag outside his Senate office.
Bloomberg News Bloomberg Interest Rates White House Jason Furman President Joe Biden Republican Lawmakers
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Powell Is Poised to Keep Fed on Higher-for-Longer Path(Bloomberg) -- Jerome Powell’s remarks in the coming week will be closely parsed by investors for any clues on just how long the Federal Reserve is willing...
Read more »
Turkey Mulls Higher Energy Bills For Higher-Income HouseholdsTurkey is working on a plan to set different natural gas and electricity tariffs for different income groups, according to a senior official with knowledge of the matter.
Read more »
S&P/TSX composite edges higher in late-morning trading, U.S. stocks also climb higherTORONTO — Strength in the financial and base metal stocks helped Canada's main stock index edge higher in late-morning trading, while U.S. stock markets also...
Read more »
Yellen says economy performing well, inflation will ebbTreasury Secretary Janet Yellen said on Thursday that the U.S. economy 'continues to perform very, very well' and that she still sees inflation falling back ...
Read more »
Yellen, Asked on Yen, Says Currency Interventions Should Be RareUS Treasury Secretary Janet Yellen said intervention in foreign-exchange markets should be rare, when asked for her reaction to any potential move by Japan to address the slide in the yen against the dollar.
Read more »
Yellen says range of options to deal with frozen Russian assetsExplore stories from Atlantic Canada.
Read more »