Economics

Yellen Plays Down Inflation Fears Amid Surge in Treasury Yields

Janet YellenPhotographer: Al Drago/The New York Times/Bloomberg
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Treasury Secretary Janet Yellen played down any concern that the recent surge in U.S. government-bond yields reflects expectations for an outsized breakout in inflation.

“I don’t see that the markets are expecting inflation to rise above” the Federal Reserve’s 2% objective, Yellen said Friday in an interview with PBS NewsHour. “Long-term interest rates have gone up some -- but mainly, I think, because market participants are seeing a stronger recovery.”