March 14, 2025
Treasury Secretary Janet Yellen is concerned about the nation’s “fiscal sustainability” this week and said she’s “sorry” that “more progress” wasn’t achieved during the Biden administration.
Yellen made the comment during a discussionheld by The Wall Street Journal’s CEO Summit on Tuesday. Greg Ip, chief economics commentator for the publication, asked about the federal budget deficit the Biden administration leaves behind and whether she was sorry more progress wasn’t made on the matter and the economic risks at stake.
“Well, I am concerned about fiscal sustainability, and I am sorry that we haven’t made more progress. I believe that the deficit needs to be brought down, especially now that we’re in an environment of higher interest rates,” Yellen said.
Treasury Secretary Janet Yellen arrives for a House Financial Services Committee hearing to discuss the the state of the International Financial System on Tuesday, July 9, 2024.
March 14. 2025
Jared Woodard, the Head of Global Research at Bank of America:
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