Former US Treasury Secretary Janet Yellen: Still believes the Fed may cut interest rates this year.

Former US Treasury Secretary Janet Yellen said she still believes a US interest rate cut is possible later this year, although oil price volatility triggered by the Iran war has cast a shadow over the outlook. Yellen stated, "This is actually a broad supply shock, spreading from gasoline prices to liquefied natural gas, fertilizers, food, shipping costs, and semiconductors." Yellen said that while she doesn't rule out the possibility of raising interest rates, stable long-term inflation expectations suggest that this is unlikely at present. "I think my guess is that there might be an interest rate cut by the end of this year. I think that's entirely possible, and the most likely scenario. However, many things can happen." (Jinshi)