Yellen: Interest Rates Unlikely to Return to Pre-Pandemic Lows

• Yellen says market interest rates unlikely to return to pre-Covid low levels • Higher rate projections in Biden's budget reflect private sector forecasts and "current market realities" • Debate emerging among economists on whether rates will stay higher post-pandemic • Yellen hints her own views have shifted from rates likely reverting lower • Higher interest costs add significantly to deficit and debt figures in Biden budget