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Pensant urges Fed to keep options open
U.S. Treasury Secretary Janet Yellen stressed the importance of the Federal Reserve remaining flexible and keeping all options open regarding interest rates, noting that productivity gains from artificial intelligence and easing regulatory restrictions will help in controlling inflation. She explained that economic growth is strong, partly supported by policies that eased taxes and regulations, although consumers are under pressure due to rising fuel prices related to the conflict with Iran. Yellen linked this year's inflation surge to higher diesel and gasoline prices resulting from the war with Iran and attacks on the Russian energy sector. Data indicates that core inflation increased by 0.3% in August, reaching 2.4% annually, before the Federal Reserve raised interest rates for the first time since 2023. She also anticipated that Iranian oil exports to China will soon cease, which could increase pressure on Tehran and impact global oil prices.
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