2 years later, US Treasury Secretary Janet Yellen has indicated that it is unlikely for interest rates to return to the pre-COVID-19 pandemic lows, marking the beginning of admissions that the 2% inflation target is effectively dead. This statement, reflecting a significant shift from previous expectations, suggests a departure from the long-held benchmark. Yellen's comments were echoed across various platforms, emphasizing the administration's stance that the assumptions made in the Biden budget plan regarding interest rates were reasonable and aligned with a broad range of forecasts. This consensus among financial experts and officials points towards a new economic landscape shaped by the pandemic's long-term effects on inflation and market yields.
It’s unclear where interest rates will settle, but it is unlikely that they will fall back to the very low levels seen before the pandemic. https://t.co/kvQJTeFI18
US Treasury Secretary Janet Yellen said it’s “unlikely” that market interest rates will return to levels that prevailed before the Covid-19 pandemic triggered a wave of inflation and higher yields. https://t.co/ZpKipMSB9H via @economics @v_dendrinou
US Treasury Secretary Janet Yellen said it’s “unlikely” that market interest rates will return to levels that prevailed before the Covid-19 pandemic triggered a wave of inflation and higher yields. https://t.co/h3YZf560nT
US Treasury Secretary Yellen: it seems unlikely that interest rates will return to levels as low as before the covid-19 pandemic.
U.S. TREASURY'S YELLEN: IT SEEMS UNLIKELY THAT INTEREST RATES WILL RETURN TO LEVELS AS LOW AS BEFORE COVID-19 PANDEMIC
YELLEN: IT SEEMS UNLIKELY THAT INTEREST RATES WILL RETURN TO LEVELS AS LOW AS BEFORE COVID-19 PANDEMIC 2 years later, the admissions begin that 2% inflation target is dead https://t.co/WxgZJjmHIW
🇺🇸 Treasury Secretary Janet Yellen just said: It seems unlikely that Interest Rates will return to levels as low as before the Covid-19 Pandemic
🔴 US TREASURY SECRETARY YELLEN: INTEREST RATE ASSUMPTIONS IN THE BIDEN BUDGET PLAN WERE REASONABLE AND CONSISTENT WITH A BROAD RANGE OF FORECASTS.
🔴 US TREASURY SECRETARY YELLEN: IT SEEMS UNLIKELY THAT INTEREST RATES WILL RETURN TO LEVELS AS LOW AS BEFORE THE COVID-19 PANDEMIC.
YELLEN: IT SEEMS UNLIKELY THAT INTEREST RATES WILL RETURN TO LEVELS AS LOW AS BEFORE COVID-19 PANDEMIC