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Former Fed Chair Janet Yellen says she’s in favor of an interest rate cut

Former Federal Reserve Chair Janet Yellen said she supports a 25-basis-point cut in the central bank’s benchmark interest rate, as the global economy weakens and inflation in the United States is lower.

“The global economy has weakened. I think partly it’s weakened because of conflicts over trade and the uncertainty that’s caused for businesses,” Yellen said.

The U.S. central bank is widely expected to cut interest rates by a quarter point on Wednesday for the first time in more than a decade.

Source: CNBC


 Trader Georgi Bozhidarov


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