Yellen says rates may need to rise ‘somewhat’
“‘It may be that interest rates will have to rise somewhat to make sure that our economy doesn’t overheat,’ Yellen said during an economic seminar presented by The Atlantic. ‘Even though the additional spending is relatively small relative to the size of the economy, it could cause some very modest increases in interest rates.'”
USAGOLD note: Wait a minute. Isn’t it the Fed’s job to remove the punch bowl? …… Treasury Secretary Yellen’s comments were instrumental in gold’s sudden drop. With all that the Fed has put into keeping expectations on tapering and interest rates tamped down, Chairman Powell might be a bit confused by the Treasury Secretary’s sudden encroachment on his territory.