Svmuu News Former US Treasury Secretary Janet Yellen stated that she still believes the US could cut interest rates later this year, although oil price volatility triggered by the Iran conflict has cast a shadow over the outlook. Yellen said, "This is essentially a broad-based supply shock, spreading from gasoline prices to liquefied natural gas, fertilizers, food, shipping costs, and semiconductors." Yellen noted that while the possibility of needing to raise interest rates cannot be ruled out, stable long-term inflation expectations suggest such a scenario is currently unlikely. "I guess my expectation is that there could be rate cuts by the end of this year. I think that is entirely possible and the most likely scenario. However, many things could happen." (Jin10)