Tariffs would result in higher domestic prices and weigh on U.S. firms’ competitiveness to export goods, says Treasury Secretary Janet Yellen.
Yellen kicked off the International Monetary Fund and World Bank annual meetings in Washington, on Oct. 22, highlighting U.S. economic growth and lambasted international isolationism that “made America and the world worse off.”
The IMF published its October edition of the World Economic Outlook earlier in the day.
Economists forecast that the U.S. economy could expand 2.8 percent this year and 2.2 percent in 2025. Strong domestic consumer demand upgraded growth projections from the July outlook.
In prepared remarks, Yellen criticized isolationist policies….