Janet Yellen, former Federal Reserve Chair, favors an interest rate cut. She stated that a weaker global economy and low inflation in the United States warrants the cut.
She favors a 25 basis point cut.
She explained the focus of the United States is to maintain a strong economy.
Slower world economic growth has resulted from trade complications and uncertainty about the stability of markets.
The Fed is expected to cut the interest rate on Wednesday.
Yellen made her remarks at the Aspen Economic Strategy Group meeting in Aspen, Colorado on Sunday the 28th.
Source for this post: Yellen Supports Cut