US Treas Secretary Yellen: GDP data shows straight a consumer investment spending

US Treasury Secretary Yellen in a interview with Reuters says:

• GDP data shows straight in consumer investment spending.
• US economy shows robust growth, firing on all cylinders
• There could be revisions to GDP data.
• I still see in underlying core drivers of economic activity considerable strength.
• We are on downward path for inflation.
• Rents have stabilized, but a lot of people still experiencing the upward adjustment to higher levels.
• I have no doubt that housing’s contribution to inflation will be coming down this year.
• Not seen that wage pressures are a source of inflation
• Certainly don’t see the economy as overheated.
• We’ve got a good strong US economy, lifting growth all around the world.
• Fed wants to see additional evidence of a sustainable decline in inflation.
• Methods are concerned with high cost-of-living.
• Biden’s top priority is to address high cost of healthcare, bring down drug prices.
• Feds first priority is to set monetary policy to be consistent with price stability
• Dollar has been strong, there are divergences with other countries.
• Key factor in dollars valuation is strength in the US economy, level of rates.
• My position has been that currency intervention is acceptable only in very rare and exceptional circumstances.
• We do have to have sustainable fiscal path
• We have enacted some deficit reduction despite divisions in Congress.

With the Fed in the quiet period of their interest-rate decision on May 1, the ex-chair of the Federal Reserve will have to do. However, her hat as change to one of “Independent” Fed official to a political appointment from the Biden administration on

This article was written by Greg Michalowski at www.forexlive.com.