US Treasury Secretary Yellen expressed that while she doesn't expect consumer prices to decrease, the pace of increases has slowed and wages have risen considerably. She emphasized that there is no need to bring prices down as wages are increasing. Yellen also mentioned the possibility of issues with selling debt in extreme cases and highlighted the importance of reducing deficits for fiscal sustainability. Additionally, she stated her belief that commercial real estate (CRE) won't pose systemic banking risk and that there are no signs of issues with the Treasury's debt-selling ability.
π΄ US TREASURY SECRETARY YELLEN: WE DON'T HAVE TO GET PRICES DOWN BECAUSE WAGES ARE GOING UP IN UKRAINE.
π΄ US TREASURY SECRETARY YELLEN: I BELIEVE FUTURE ADMINISTRATIONS WILL NEED TO REDUCE DEFICITS TO STAY ON A FISCALLY SUSTAINABLE PATH.
Yellen: we don't have to get prices down because wages are going up
β οΈ JUST IN: *YELLEN: DON'T EXPECT THE LEVEL OF CONSUMER PRICES TO GO DOWN https://t.co/sh6lUznkRK
YELLEN: "The high prices were not caused by Bidenomics!" @SenJohnKennedy: "They're here to stay, aren't they?" YELLEN: "I don't expect the level of prices to go down." https://t.co/z56AUxQUo8
YELLEN: WE DON'T HAVE TO GET PRICES DOWN BECAUSE WAGES ARE GOING UP
πΊπΈ JANET YELLEN: WE DON'T HAVE TO GET PRICES DOWN BECAUSE WAGES ARE GOING UP
β YELLEN: WE DON'T HAVE TO GET PRICES DOWN BECAUSE WAGES ARE GOING UP
π΄ US TREASURY SECRETARY YELLEN: WE DON'T HAVE TO GET PRICES DOWN BECAUSE WAGES ARE GOING UP.
π΄ US TREASURY SECRETARY YELLEN: I DON'T EXPECT THE LEVEL OF PRICES TO GO DOWN, BUT PACE OF INCREASES HAS SLOWED, WAGES HAVE RISEN CONSIDERABLY.
*YELLEN: DON'T EXPECT THE LEVEL OF CONSUMER PRICES TO GO DOWN
π΄ US TREASURY SECRETARY YELLEN: I BELIEVE CRE WON'T END UP BEING SYSTEMIC BANKING RISK.
π΄ US TREASURY SECRETARY YELLEN: IN AN EXTREME CASE, IT IS POSSIBLE TO SEE ISSUES WITH SELLING DEBT.
π΄ US TREASURY SECRETARY YELLEN: NO SIGN OF ISSUES WITH TREASURY'S DEBT-SELLING ABILITY.
π΄ US TREASURY SECRETARY YELLEN: I BELIEVES THE US NEEDS TO REDUCE DEFICITS TO STAY ON A FISCALLY SUSTAINABLE PATH.
β YELLEN SAYS BELIEVES U.S. NEEDS TO REDUCE DEFICITS TO STAY ON A FISCALLY SUSTAINABLE PATH