Yellen: Fed won’t inflate debt away
Janet Yellen, the president of the San Francisco Federal Reserve, sought to soothe fears massive fiscal deficits could lead to high inflation, saying that in advanced countries with independent central banks, government deficits do not cause inflation.
In a speech delivered on Tuesday at a Town Hall in Los Angeles, Yellen voiced her concerns over the size of the deficit, which according to the Congressional Budget Office will amount to almost $1.4 trillion, equal to almost 9% of US GDP, but
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