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Yellen: "May Be That Interest Rates Will Have To Rise Somewhat"

US
Yields rise on comments by Treas Sec Yellen's who made an apparently pre-recorded appearance Monday with The Atlantic magazine that has just been released.
  • Yellen's full comment, in response to a question of whether there is there a risk to overall economic growth if the government's share of GDP grows under the Biden White House's fiscal plans: "It does involve a reallocation of resources...It may be that interest rates will have to rise somewhat to make sure that our economy doesn't overheat, even though the additional spending is relatively small relative to the size of the economy. So it could cause some very modest increases in interest rates to get that reallocation."
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