U.S. Treasury Secretary Calls for Rate Cuts Amidst Inflation Decrease

U.S. Treasury Secretary Janet Yellen has expressed support for lowering interest rates if inflation declines, advocating for a potential shift in monetary policy by the Federal Reserve. In an attempt to address concerns about an imminent economic recession, she highlighted that the economy is currently undergoing a period of transition. Secretary Yellen believes a reduction in mortgage rates could help alleviate the downturn in the real estate sector.