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. Last Updated: 07/27/2016

Rubin Downplays Fears

WASHINGTON -- Outgoing U.S. Treasury Secretary Robert Rubin, in an interview with USA Today published Wednesday, downplayed fears in financial markets that inflation is poised to pick up.

Rubin, who will step down on July 4, called the economic outlook favorable and said inflation probably would stay low. "You always have to be watchful with respect to inflation," he told the newspaper. "But it seems to me that the most likely scenario will be low inflation."

Financial markets have been ruffled recently by fears that the economy is overheating and that the inflation-wary Federal Reserve will raise interest rates next week to cool it down.