Yellen says US Fed cut ‘positive sign,’ policy still restrictive
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Treasury Secretary Janet Yellen described the Federal Reserve's interest-rate cut on September 18, 2024, as 'a very positive sign for where the US economy is,' indicating progress in reducing inflation and a focus on maintaining a strong job market; Yellen emphasized that the Fed's confidence reflects diminished inflation risks and a commitment to the 2% target; she noted that the stance of monetary policy remains restrictive, with expectations for further interest rate reductions into 2026; Yellen highlighted that the job market is 'normal, healthy,' contrasting it with the tighter labor conditions of 2022 and 2023.

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