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International Business Times
International Business Times
World
AFP News

US Fed Rate Cut Is 'Very Positive Sign' For Economy: Yellen

Janet Yellen US Federal Reserve United States Economy Joe Biden Interest Rates Inflation
US Treasury Secretary Janet Yellen also defended tariffs that President Joe Biden's administration recently hiked on Chinese goods (Credit: AFP)

The US central bank's decision to slash interest rates this week is a "very positive sign" for where the world's biggest economy stands, US Treasury Secretary Janet Yellen said Thursday.

Yellen's remarks came a day after the Federal Reserve opted for an aggressive rate cut of half a percentage point, its first since 2020 as inflation cooled.

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