Reported about 1 year ago
U.S. Treasury Secretary Janet Yellen announced new measures to boost housing affordability, including $100 million for affordable housing financing. Yellen anticipates inflation falling back to the Fed's 2% target as housing costs stabilize. She declined to comment on potential interest rate cuts but stated confidence in the economy. Yellen emphasized the importance of deficit reduction to avoid a debt crisis, noting Biden's plans for tax cut adjustments. She critiqued the Tax Cuts and Jobs Act, emphasizing the need for fiscal responsibility. Yellen highlighted targeted tariffs on strategic industries and the importance of domestic production for job creation and supply chain resilience.
Source: YAHOO