Yellen: U.S. GDP Growth to Hit 3% on Tax Cuts, Deregulation

U.S. Treasury Secretary Janet Yellen, speaking at the Milken Institute Global Conference, asserted that the United States remains the premier destination for global capital. She attributed this status to the country's robust economic policies, including tax cuts and deregulation implemented under the Trump administration. Yellen expressed confidence that these measures would propel the U.S. GDP growth rate to 3% in the following year.

Yellen acknowledged that ongoing trade negotiations with various partners can be challenging. However, she emphasized that these discussions are essential for strengthening trade relations and that the government is on the verge of finalizing several trade agreements. She also highlighted her commitment to monitoring the 10-year U.S. Treasury bond yield and taking steps to mitigate the U.S. government's credit risk.

Yellen's remarks underscore the U.S. government's proactive approach to economic policy, aiming to foster a favorable environment for both domestic and international investment. The anticipated 3% GDP growth rate reflects optimism about the impact of recent policy changes on economic performance. This growth projection is significant as it indicates a potential acceleration in economic activity, which could attract further capital inflows and bolster the U.S. economy's resilience.

The U.S. Treasury Secretary's focus on trade negotiations and credit risk management demonstrates a comprehensive strategy to address both short-term and long-term economic challenges. By actively engaging in trade discussions and closely monitoring financial indicators, the U.S. aims to maintain its position as a leading global economic power. This approach not only benefits the U.S. economy but also reinforces its role as a stable and attractive destination for global capital.