Posted 12/13/2023, 4:28:03 PM
Yellen Forecasts Inflation Dropping to 2% by 2024, Potentially Allowing Interest Rates to Fall
- Yellen expects inflation to fall to around 2% by end of 2024
- As inflation decreases, interest rates could come down to avoid tightening financial conditions
- Consumer price index rose 3.1% year-over-year in November; core inflation was 4%
- Fed widely expected to hold interest rates steady at current policy meeting
- Yellen says Fed has to balance risks of high inflation and weak economic growth