US Treasury Secretary Yellen: rising prices have become a serious problem for citizens
US Treasury Secretary Janet Yellen called the significant increase in the cost of living a serious problem for many Americans. The newspaper publishes an interview with her Financial Times.
She noted that prices for housing and everyday goods remain high for citizens. “They see it when they buy food. They see this when they pay rent,” said the head of the US Treasury. Yellen also said rising interest rates have made it harder for young people to afford their own homes.
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The minister recalled that wages in the country have increased, but this could not compensate for inflation. “Significant increase [цен] happened in a relatively short period of time, which is very noticeable to people,” Yellen said.
Analysts at the International Monetary Fund (IMF) previously predicted a rapid increase in US government debt – up to 133.9 percent of GDP by 2029. According to updated expert estimates, in 2024 the size of the US national debt will increase to 123.3 percent of GDP, and in 2025 it will reach 126.6 percent. For comparison, in 2023 the figure was 122.1 percent.
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