US Treasury Secretary Yellen speaking, a lot of her earlier comments were on tax issues.
Expressing an opinion on CPI now. Yellen is in the ‘transitory’ camp … but sees a few more months of sharply rising prices.
- worried about housing affordability
- but not about the financial stability impact of rising house prices: “The lending that’s taking place is to creditworthy borrowers so I don’t think we’re seeing the same kinds of dangers in this that we saw in the runup to the financial crisis in 2008”
I guess creditworthiness is pretty good when interest rates are close to nuthin’, yeah?
- sees interest rates remaining at moderate levels
- sees inflation staying under control
- believe the Fed is doing a good job
more to come