Lates News

Former US Treasury Secretary Yellen said she still believes that the US may cut interest rates later this year, but the oil price fluctuations caused by the Iran war have cast a shadow over the outlook. Yellen said, "This is actually a broad supply shock that has spread from gasoline prices to liquefied natural gas, fertilizers, food, shipping costs, and semiconductor industries." Yellen said that although the possibility of raising interest rates cannot be ruled out, stable long-term inflation expectations suggest that this scenario is unlikely to occur at present. "I think my guess is that there may be rate cuts by the end of this year. I think this is entirely possible and the most likely scenario. However, many things are possible."