Treasury Secretary Yellen: Shelter inflation likely to fall in the next year
Source Fxstreet
According to US Treasury Secretary Janet Yellen, inflation remains high but is assuring markets that data continues to point towards a recovery on US price growth and economic activity.
Key highlights
Yellen affirms it is "highly likely" that shelter inflation will fall in the next year.
Still-high inflation largely due to fading supply shocks.
People are generally better off despite price growth, but still have more work to do.
Higher steel tariffs on China seem appropriate.
The US needs to take "significant steps" to reduce budget deficit.
Yellen remains concerned about where the US is headed with deficit.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
Ethereum fell below $3,000 after failing at $3,200, with resistance at $3,020 and key support at $2,880; a break lower could target $2,800 and $2,750, while a rebound needs $3,120–$3,150.
Bitcoin fell below $90,000 to around $88,300 as risk-off headlines hit markets, while on-chain data shows new whales now lead Realized Cap with a ~$98,000 cost basis and ~$6B unrealized losses.
Gold (XAU/USD) is seen extending the previous day's modest pullback from the vicinity of the $4,900 mark, or a fresh all-time peak, and drifting lower through the Asian session on Thursday.
President Trump's pledge to sign pro-crypto legislation boosts Bitcoin prices as he emphasizes keeping the US as a crypto leader.
Related Instrument
