Gate News message, April 15 — Former U.S. Treasury Secretary Janet Yellen said she still believes the Federal Reserve could cut interest rates later this year, though the Iran war and resulting oil price volatility have clouded the outlook.
Yellen described the situation as “essentially a broad supply shock” affecting gasoline prices, liquefied natural gas, fertilizers, food, shipping costs, and semiconductors.
While not ruling out the possibility of rate hikes, Yellen noted that stable long-term inflation expectations suggest such a scenario is unlikely. “My guess is that there could be rate cuts by the end of the year. I think that’s entirely possible and the most likely scenario. But many things could happen,” she said.
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