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WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Thursday that supply chain pressures and shipping costs were coming down and were eventually likely to bring down inflation.
She also said a debt default would undermine the U.S. dollar’s reserve currency status and that a failure to raise the debt ceiling would lead to a recession or worse.
Yellen made the remarks in a U.S. House of Representatives Appropriations subcommittee hearing.
(Reporting by David Lawder in Washington; writing by Kanishka Singh; Editing by Leslie Adler)
