U.S. Interest Rate Cut Possible Later This Year, Says Former Treasury Secretary Yellen

Former U.S. Treasury Secretary Janet Yellen has expressed that a potential interest rate cut in the United States later this year remains plausible. According to Jin10, Yellen highlighted that the oil price volatility triggered by the ongoing conflict in Iran has cast uncertainty over the economic outlook. She described the situation as a widespread supply shock affecting various sectors, including gasoline prices, liquefied natural gas, fertilizers, food, shipping costs, and semiconductors. Yellen acknowledged the possibility of needing to raise interest rates but noted that stable long-term inflation expectations suggest such a scenario is unlikely at present. "I think my guess is that there might be rate cuts by the end of this year. I believe this is entirely possible and the most likely scenario. However, many things could happen," she stated.