×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Skip to main content
Tags: Treasury Secretary Janet Yellen | Federal Reserve | inflation | tapering

Treasury's Yellen: Fed's Job Is to Avoid 'Wage-Price Spiral'

Janet Yellen
Treasury Secretary Janet Yellen speaks to lawmakers during a House Committee on Financial Services hearing on Capitol Hill in Washington, Wednesday, Dec. 1, 2021. (AP)

Thursday, 02 December 2021 09:48 AM

U.S. Treasury Secretary Janet Yellen told the Reuters Next conference Thursday it was the Federal Reserve's job to ensure that the current run of high inflation does not evolve into a damaging and long-lasting "wage-price spiral" like the economy endured in the 1970s.

Yellen, who served as chair of the Federal Reserve Bank from 2014 to 2018, said it was up to the U.S. central bank to decide what to do about interest rates, but that a strong U.S. economy, which would likely prompt rate increases, is generally a good thing for the rest of the world.

© 2022 Thomson/Reuters. All rights reserved.


StreetTalk
US Treasury Secretary Janet Yellen told the Reuters Next conference Thursday it was the Federal Reserve's job to ensure that the current run of high inflation does not evolve into a damaging and long-lasting "wage-price spiral."
Treasury Secretary Janet Yellen, Federal Reserve, inflation, tapering
97
2021-48-02
Thursday, 02 December 2021 09:48 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved
Download the NewsmaxTV App
NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved