US Treasury Sec. Yellen: Expecting to be in low interest rate environment for some time

US Treasury Secretary Janet Yellen said on Tuesday that she expects to be in an environment of low interest rates for some time but added that they still need to make sure deficits remain manageable, as reported by Reuters.

Additional takeaways

"US President Joe Biden's overall program will make big difference to inequality."

"There's more to do around inequality than simply promoting education."

"Marginal tax rates are much less powerful in influencing growth than many thought."

"Little evidence of burst of investment after Trump's tax cuts."

"Private investment will be critical to getting to net-zero emissions."

Market reaction

The S&P 500 Index stays deep in the negative territory and was last seen losing 1.2% on the day at 4,141.