Time now for an in-depth look at the market news this afternoon.
And for that, I'm joined on the line by Dr. Kim Sei-wan, Professor of Economics at Ewha Womans University.
Professor Kim, good afternoon. Thank you for coming on.
Let's start with some remarks by U.S. Treasury Secretary Janet Yellen, who said at a seminar this week that she thinks interest rates may have to rise somewhat to keep the economy from overheating with all this stimulus. But she later walked back those comments, saying she's not predicting an inflation problem. Tell us about this and what you think the prospects are for rising rates.
So if there's a growing risk of rates rising, that would bring some attention to the Bank of Korea, which would be in a similar position. For last month, consumer prices rose by more than 2 percent. What do you make of that situation? Is it something we should worry about?
Turning to the markets, stocks this week on Wall Street have been mixed. On Wednesday, more companies posted strong earnings and signs of an economic recovery lifted the Dow to a new high. A decline on the Nasdaq, though. What's the story in the global markets?
Here in Korea today, stocks started out lower but posted a decent gain for the day, seeming to reflect gains in the U.S. when the Korean markets were closed yesterday for Children's Day. Tell us about the local markets.
Finally, professor, household borrowing in Korea has been increasing again in recent months. There are concerns about the burden households could face with rising interest rates. Tell us about the household debt situation.