US Treasury Secretary Yellen spoke in a wide-ranging interview with CNBC on Wednesday.
You can find the full transcript here.
Some of the highlights:
- Says I see a path to bringing down inflation while maintaining strong labor market
- Seeing some signs of easing in labor market
- We'll continue to see economic progress over the next two years in bringing inflation down
- Treasury continues to be able to pay all of America's bills
- US now very focused on investing in America
- Bringing inflation down is a top priority
- Treasury expects cash pile to be around $425b at the end of June
- I do think there will be issues with commercial real estate
- Would not surprise me to see some bank consolidation
- Supports US regulatory oversight over crypto to protect consumers, investors
- Additional crypto regulation would be appropriate, will work with Congress to see additional legislation passed
Some cross-current in here comments on inflation, the S&P and NQ took the hawkish line (helped along by the Bank of Canada hiking rates?):
- Tending dovish: Seeing some signs of easing in labor market
- Tending hawkish: Bringing inflation down is a top priority
(This chart is from our charting app, which is free and can be found at this link)
