US Treasury Secretary Janet Yellen said that the ballooning national debt could be controlled if it remained at those levels. She said that the high interest rate increases the burden because the United States is managing a huge debt burden worth $34.7 trillion, but at the same time she stressed that if it stabilizes... Debt relative to the size of the economy, in this case America is in a reasonable position.
Knowing that the share of the national debt to the US GDP is about 97%, but this percentage is expected to exceed 100% levels soon.
In terms of the jobs sector, Yellen said that jobs are being created at a very rapid pace. However, she noted that the unemployment rate has risen at a slow pace, and the labor market has become a little more normal. In this regard, Yellen said that the labor market now resembles the pre-pandemic stage, and wages do not pose a threat at the level of contributing to increased inflation.
Yellen confirmed her support for increasing taxes on billionaires, but at the same time she does not favor a global wealth tax. At the level of inflation, the former Fed chair stressed her belief that it will continue to decline, but at the same time she pointed to the difficulty of reducing costs.
