Yellen: I support a 25 basis point interest rate cut.
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Janet Yellen, former chairman of the Federal Reserve, said she supported the Federal Reserve to cut its benchmark interest rate by 25 basis points because of the weakening global economy and low inflation in the United States.
"The global economy has weakened," Yellen said at the opening ceremony of the Aspen Economic Strategy Group meeting in Aspen, Colorado, Sunday night. I think this is partly due to trade conflicts and uncertainty for businesses. "
Yellen believes that inflation in the United States is still very low - too low. "The United States is not an island," she said. We are part of the global economy. What happens in other parts of the world -- in Europe and Asia -- affects the United States. In addition, the monetary policy of the United States will indeed affect the global situation.
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