US Treasury Secretary Janet Yellen stated that it is unlikely for interest rates in the US to go back to pre-COVID-19 levels. She also mentioned the steps taken to support the domestic electric vehicle industry and the challenges faced in containing Chinese battery content in US-produced EVs.
US Treasury Secretary Janet Yellen said that it seems unlikely that interest rates in the US will return to pre-COVID-19 levels. Key quotes “Interest rate assumptions in Biden’s budget plan were reasonable and consistent with a broad range of forecasts.” “US taking steps to ensure that domestic electric vehicle industry is successful in the face of Chinese competition.
” “Tax credit rules on foreign entities of concern will make it increasingly difficult for US-produced EVs to contain Chinese battery content.” “Asked if more US tariffs were needed on Chinese EVs, says Biden is committed to ensuring that US EV industry is successful.” Market reaction These comments do not seem to have a major influence on risk mood. As of writing, the US Dollar Index (DXY) is trading at 102.78, losing 0.03% on the day
US Treasury Secretary Janet Yellen Interest Rates Pre-COVID-19 Levels Biden's Budget Plan Domestic Electric Vehicle Industry Chinese Competition Tax Credit Rules US-Produced Evs Chinese Battery Content US Tariffs Risk Mood US Dollar Index
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