Sec. Yellen: ‘I Am Concerned About Fiscal Sustainability and I Am Sorry that We Haven’t Made More Progress’

EXCERPT:

YELLEN: "Well, I am concerned about fiscal sustainability, and I am sorry that we haven’t made more progress. I believe that the deficit needs to be brought down, especially now that we’re in an environment of higher interest rates. And for example, over the last year, the interest cost of the debt has increased by several hundred billion. It’s one of the largest items responsible for increased -- the increase in the budget deficit, and we do need to bring it down.”