Treasury Sec Yellen: USD movements largely reflect fundamentals

  • Yellen declines to comment on whether dollar has peaked
yellen
  • Intends to deepen interactions with Chinese officials
  • Believes US can avoid recession given there is no wage-prices spiral and that supply chains easing
  • Apartment rents are coming down with a lag
  • I believe we're on the right track in lowering inflation
  • Change in China covid stance could lead to a pickup in growth but it will depend on public health consequences

There isn't much to take away here.

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