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Yellen Says Yields Unlikely to Rise Without Strong Recovery

Thursday, 08 May 2014 12:11 PM

May 8 (Bloomberg) -- Federal Reserve Chair Janet Yellen said Treasury yields aren’t likely to increase in the absence of a more robust economic recovery.

“Interest rates are unlikely to begin rising until we are in a strong economic recovery,” Yellen said in response to a question in testimony today to the Senate Budget Committee.

Yellen was responding to a question about the impact higher Treasury yields might have on the federal budget deficit.

“In thinking about what will happen with the deficit and the debt it’s important to keep in mind that a strong economy will be very good for the federal budget deficit,” she said. “Yes, interest payments will go up, but I believe that the larger piece of it will be that a stronger economy will improve the budget.”

To contact the reporter on this story: Jeff Kearns in Washington at jkearns3@bloomberg.net

To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net

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Yellen Says Yields Unlikely to Rise Without Strong Recovery
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Thursday, 08 May 2014 12:11 PM
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