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US Treasury Secretary Janet Yellen, during various statements, emphasized the need to protect workers and businesses from unfair trade practices, advocated for rare and transparent currency interventions, and supported US Congress involvement in decisions on a central bank digital currency. Yellen also expressed concerns about high inflation impacting many Americans, highlighting struggles with rising living costs, including food prices, rentals, and mortgage rates. She acknowledged wage increases but noted significant price hikes affecting essential goods, making living costs a challenge for many.
Secretary Yellen is saying it out loud: “The cost of living is a problem to a lot of people.” In other words, it’s not just vibes. Prices of essentials matter: “Although wages have gone up significantly … there are substantial increases in prices that are important to people” https://t.co/g6gKAHT4ls
Yellen: “Although wages have gone up significantly, and, at least on average, more than prices have gone up, there are substantial increases in prices that are important to people — and it’s substantial increases in a relatively short period of time that are very noticeable to… https://t.co/sRE60L23ow
“They see it when they shop for food. They see it in terms of rentals. With higher mortgage rates, it’s tough for young people who would like to buy a house to enter the market,” Yellen said in an interview with the @FT. https://t.co/Truaf7KV44