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19 Jan 2021
Yellen: Important to remember we are in a low interest rate environment, time to invest
Janet Yellen, the nominee for Treasury Secretary, has said the environment is lof low-interest rates, making the case for investment. Ten-year Treasury yields have dropped to 1.092% from near 1.12% earlier in the day.
She has stressed that Congress should approve additional fiscal support to prevent scarring of the economy rather than worrying about debt. She has pointed to a steady rate of debt-to-GDP despite the ballooning absolute amount of liabilities. Yellen has also called for more investment.
The US Dollar is stable, with EUR/USD hovering around 1.2120.