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Yellen says higher Treasury yields signal recovery, not inflation

·1 min read
FILE PHOTO: Yellen holds a news conference in Washington

WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen on Friday said higher long-term Treasury debt yields were a sign market participants were anticipating a stronger recovery, not of increased inflation concerns.

"I don't see that the markets are expecting inflation to rise above the 2% inflation objective that the Fed has as an average inflation rate over the longer run," Yellen said in a PBS Newshour interview.

She added the United States needs faster job growth than seen during February, but can reach full employment by next year with President Joe Biden's $1.9 trillion stimulus plan in place.

(Reporting by David Lawder; Editing by Chris Reese)