U.S Treasury's Yellen downplays inflation, rate hike concerns

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FILE PHOTO: U.S. Treasury Secretary Janet Yellen, the former Federal Reserve chair, holds a news conference in Washington, U.S. December 13, 2017. REUTERS/Jonathan Ernst

WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Tuesday that she does not anticipate that inflation will be a problem for the U.S. economy, as price increases during the recovery should be transitory.

Yellen, speaking to a Wall Street Journal event, clarified earlier remarks that interest rates may need to rise modestly to prevent the economy from overheating. โ€œItโ€™s not something Iโ€™m predicting or recommending,โ€ she said.

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