FT News Briefing Yellen says US interest rates may have to rise, European central banks lag in gender equality
May 5, 2021
Treasury Secretary Janet Yellen warns that U.S. interest rates may need to rise to prevent the economy from overheating. Meanwhile, companies are getting creative with incentives like cash and free meals to boost COVID-19 vaccination rates. The discussion also highlights the lack of women in prominent roles within European central banks and the hidden barriers that hinder gender equality in finance. Personal stories from female leaders emphasize the pressing need for diversity in decision-making roles.
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Yellen's Rate Hike Suggestion
- Janet Yellen suggested raising interest rates to prevent economic overheating, contradicting Fed Chair Jerome Powell.
- This caused a sell-off in tech stocks, highlighting market sensitivity to inflation concerns.
Lagarde's ECB Photo
- When Christine Lagarde became ECB head, she was the only woman on the 20+ member governing council.
- Two years later, only one more woman joined, highlighting the gender gap in European central banking.
Women in Central Banking
- While women joining central banks is improving, promotion to management roles lags.
- This lack of female role models can discourage other women from applying, according to Isabel Schnabel.