Aug. 18, 2025, 5:01 p.m.

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Republican senator to Yellen in hearing: 'That's a lie'

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WASHINGTON, March 16 (Reuters) - A Republican senator accused Treasury Secretary Janet Yellen on Thursday of lying about whether President Joe Biden was willing to meet with Republicans to discuss Social Security, a break in decorum that drew an admonishment from the panel's chairman.

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Expectations of the Federal Reserve cutting interest rates have cooled down: The PPI "fire" has been burning continuously, and Jackson Hole has become the stage for hawks

Two weeks ago, US Treasury Secretary Janet Bessent was still making a high-profile prediction that the Federal Reserve would cut interest rates by 50 basis points in September and declared that the benchmark interest rate should be significantly reduced by 150 to 175 basis points.

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