“I don’t see that the markets are expecting inflation to rise above the 2% inflation objective that the Fed has as an average inflation rate over the longer run,” Yellen said in a PBS Newshour interview.
Secretary Yellen announced that we will engage robustly to address both Pillars of the OECD project, and that that the United States is no longer advocating for "safe harbor" implementation of Pillar 1.
The current US unemployment rate is 6.3%, compared with 3.5% before the pandemic - a level widely viewed as effectively full employment.
Success to me would be if we could get back to pre-pandemic levels of unemployment and see the re-employment of those who have lost jobs in the service sector, particularly - I would also consider them a measure of success.
One IMF expert said a $500 billion boost in SDRs would deliver some $14 billion in added reserves to low-income countries and $60 billion to emerging markets, but others said the yields could be much higher.
During a call with Malpass, Yellen "emphasized that climate change is an existential threat to our environment and global economy and urged robust support to low-income countries," Treasury said in a statement.