Yellen says it seems unlikely that interest rates will return to pre-pandemic lows

US Treasury Secretary Yellen says it seems unlikely that Interest Rates will return to levels as low as before the Covid-19 pandemic

More:

• Interest rate assumptions in Biden’s budget plan were ‘reasonable’
  and consistent with a broad range of forecasts

• US taking steps to ensure that domestic electric vehicle industry is
  successful in the face of Chinese competition

• Tax credit rules on foreign entities of concern will make it
  increasingly difficult for u.s.-Produced evs to contain Chinese
  battery content

• Asked if more US tariffs were needed on Chinese EVs, says Biden is
  committed to ensuring that US EV industry is successful

Yellen’s comments on pre-pandemic interest rate levels … yeah she is correct for the foreseeable future at least. Of course, never say never in financial markets but the with fed funds north of 5% and inflation ticky we ain’t gonna see zero and just above for a long time.

This article was written by Eamonn Sheridan at www.forexlive.com.