Yellen says one Fed rate cut possible this year
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Former US Treasury Secretary Janet Yellen believes one interest rate cut by the Federal Reserve is possible this year despite inflation pressure from the Iran conflict. The US and China have a beneficial trade and investment relationship that should be preserved.
Former US Treasury Secretary Janet Yellen said one interest rate cut by the Federal Reserve is possible this year. The Fed kept benchmark interest rates steady at 3.5%-3.75% in March, with a majority projecting at least one rate cut. The Iran conflict has intensified economic uncertainty, putting upward pressure on inflation. Crude oil prices surged over 30% due to the conflict. Yellen emphasized the importance of preserving the US-China trade and investment relationship. The US consumer prices increased significantly in March amid a record surge in petrol and diesel costs.
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